QRG Capital Management Inc. Increases Stake in JPMorgan Chase & Co.

QRG Capital Management Inc. has augmented its investment in JPMorgan Chase & Co. (NYSE:JPM) by 5.1% during the third quarter, as disclosed in its latest Form 13F filing with the Securities and Exchange Commission. Following this addition, QRG Capital Management currently possesses 486,182 shares of the prominent financial provider after acquiring an additional 23,567 shares within this period. This increase positions JPMorgan Chase & Co. as approximately 1.1% of QRG Capital Management's total investment portfolio, ranking it as the firm’s 13th largest holding. According to the latest SEC filing, the total value of QRG Capital Management’s holdings in JPMorgan Chase & Co. stands at $102,516,000.

In addition to QRG Capital Management, several other large investors have also adjusted their positions in JPMorgan Chase & Co. Fairway Wealth LLC entered into a new stake in the bank during the second quarter, valued at approximately $32,000. Anfield Capital Management LLC similarly acquired a new position during that same quarter worth $34,000. Davidson Capital Management Inc. made its entry into JPMorgan Chase & Co. in the first quarter with an investment of $37,000. Additionally, West Financial Advisors LLC established a new stake valued at about $37,000 in the third quarter. New England Capital Financial Advisors LLC increased its own stake in JPMorgan Chase & Co. by 38.5% in the third quarter, culminating in the ownership of 180 shares valued at approximately $38,000 after purchasing 50 more shares in the previous quarter. It is noted that 71.55% of JPMorgan Chase & Co.'s stock is currently held by institutional investors.

JPMorgan Chase & Co. Stock Overview

On Friday, shares of JPMorgan Chase opened at $236.36. The company boasts a market capitalization of $665.43 billion, with a price-to-earnings ratio of 13.15 and a price-to-earnings-growth ratio of 3.21. The stock has experienced a 1-year low of $143.62 and a 1-year high of $248.00. According to recent performance, the company's 50-day simple moving average is $216.71, while its 200-day simple moving average stands at $207.71. Financial metrics indicate a debt-to-equity ratio of 1.27 and both a current and quick ratio of 0.89.

Quarterly Earnings and Dividend Announcement

JPMorgan Chase & Co. disclosed its quarterly earnings results on October 11th. The firm achieved earnings of $4.37 per share for the quarter, surpassing the consensus estimate of $4.02 by $0.35. The reported revenue for the quarter was $43.32 billion, exceeding analysts' projections of $41.43 billion. The company achieved a net margin of 19.64% and a return on equity of 16.71%, with a year-over-year revenue increase of 6.5%. Last year during the same quarter, earnings were reported at $4.33 per share. Analysts forecast that JPMorgan Chase & Co. will report earnings of $17.52 per share for the current fiscal year.

Moreover, JPMorgan Chase & Co. recently declared a quarterly dividend paid on October 31st, amounting to $1.25 per share. Shareholders recorded on October 4th were entitled to this dividend, which represents an increase from the previous quarterly dividend of $1.15. This leads to an annualized dividend amount of $5.00, yielding a dividend rate of 2.12%. The company’s current payout ratio stands at 27.82%.

Analyst Ratings and Price Targets

In terms of analyst ratings, several firms have recently released reports concerning JPMorgan Chase & Co. StockNews.com upgraded their rating from “sell” to “hold” on July 13th. Deutsche Bank maintained a “hold” rating, issuing a price target of $235.00 on September 3rd. Oppenheimer increased its price target from $232.00 to $241.00, giving an “outperform” rating for the company. Morgan Stanley, however, downgraded the rating from “overweight” to “equal weight” on September 30th, adjusting their target price from $220.00 to $224.00. Evercore ISI also raised their price target on October 14th from $217.00 to $230.00, reiterating an “outperform” rating for JPMorgan Chase & Co. Currently, one analyst has given a sell rating, seven have rated it as a hold, and eleven have issued buy ratings, reflecting a “Moderate Buy” average rating with a consensus target price of $224.31.

The financial giant, JPMorgan Chase & Co., provides a range of services globally through four main segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. Within the Consumer & Community Banking segment, offerings include deposit and lending products, cash management services, and credit cards among others.

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