Granite Bay Wealth Management LLC Has $6.36 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Granite Bay Wealth Management LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,518 shares of the financial services provider’s stock after acquiring an additional 588 shares during the period. JPMorgan Chase & Co. comprises about 2.4% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 17th largest holding. Granite Bay Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $6,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Financial Corp IN boosted its holdings in shares of JPMorgan Chase & Co. by 3.2% in the fourth quarter. First Financial Corp IN now owns 11,912 shares of the financial services provider’s stock valued at $2,855,000 after buying an additional 366 shares during the period. PFW Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $1,206,000. Catalyst Private Wealth LLC lifted its position in JPMorgan Chase & Co. by 3.6% in the 4th quarter. Catalyst Private Wealth LLC now owns 2,055 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 71 shares in the last quarter. Noble Family Wealth LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth $227,000. Finally, Miracle Mile Advisors LLC increased its holdings in JPMorgan Chase & Co. by 57.2% during the 4th quarter. Miracle Mile Advisors LLC now owns 104,595 shares of the financial services provider’s stock worth $25,073,000 after purchasing an additional 38,078 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on JPM shares. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a report on Tuesday, December 3rd. Bank of America boosted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective on the stock. in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Trading Up 1.3 %

JPM stock opened at $247.35 on Wednesday. JPMorgan Chase & Co. has a one year low of $164.30 and a one year high of $254.31. The stock has a market cap of $696.37 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company has a fifty day moving average price of $242.60 and a two-hundred day moving average price of $223.51. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.