Watch Point Trust Co raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,282 shares of the financial services provider’s stock after buying an additional 6,735 shares during the period. JPMorgan Chase & Co. makes up 2.9% of Watch Point Trust Co’s portfolio, making the stock its 5th biggest position. Watch Point Trust Co’s holdings in JPMorgan Chase & Co. were worth $5,175,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in JPM. Personal Wealth Partners acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $28,000. Smart Portfolios LLC boosted its holdings in shares of JPMorgan Chase & Co. by 29.6% in the fourth quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after buying an additional 114 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of JPMorgan Chase & Co. by 126.7% in the second quarter. Sound Income Strategies LLC now owns 510 shares of the financial services provider’s stock worth $57,000 after buying an additional 285 shares during the period. Asset Planning Services Ltd. acquired a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $61,000. Finally, Semmax Financial Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $56,000. 72.31% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on JPM. Deutsche Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. Morgan Stanley set a $122.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday, August 9th. Goldman Sachs Group reiterated a “neutral” rating and issued a $117.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 22nd. Zacks Investment Research cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $120.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $121.94.
Shares of JPM stock traded up $0.44 during trading on Wednesday, hitting $107.75. 1,118,728 shares of the company were exchanged, compared to its average volume of 12,049,560. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $344.43 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.55 and a beta of 1.16. The business’s 50-day simple moving average is $112.41 and its 200 day simple moving average is $108.93. JPMorgan Chase & Co. has a twelve month low of $91.11 and a twelve month high of $119.24.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, topping the consensus estimate of $2.50 by $0.32. The business had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $2.29 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 9.94 earnings per share for the current fiscal year.
In related news, EVP Peter Scher sold 10,816 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total transaction of $1,243,840.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lori A. Beer sold 13,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the transaction, the insider now directly owns 10,130 shares in the company, valued at approximately $1,157,656.40. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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