ERTS Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 11.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,023 shares of the financial services provider’s stock after acquiring an additional 207 shares during the period. ERTS Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $226,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in JPM. Thoroughbred Financial Services LLC boosted its holdings in JPMorgan Chase & Co. by 11,601.0% in the second quarter. Thoroughbred Financial Services LLC now owns 4,973,970 shares of the financial services provider’s stock valued at $497,397,000 after acquiring an additional 4,931,461 shares during the last quarter. Renaissance Technologies LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $331,575,000. Bessemer Group Inc. boosted its holdings in JPMorgan Chase & Co. by 179.6% in the second quarter. Bessemer Group Inc. now owns 3,508,417 shares of the financial services provider’s stock valued at $392,240,000 after acquiring an additional 2,253,764 shares during the last quarter. Winslow Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $179,688,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 82.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,076,323 shares of the financial services provider’s stock worth $232,129,000 after buying an additional 937,836 shares in the last quarter. Institutional investors and hedge funds own 72.23% of the company’s stock.
JPM has been the topic of a number of research analyst reports. Morgan Stanley set a $122.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday, August 9th. Wells Fargo & Co set a $125.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday, August 16th. Royal Bank of Canada restated a “buy” rating and set a $120.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 16th. DZ Bank restated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, August 21st. Finally, Deutsche Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus target price of $121.94.
In related news, Director Mellody L. Hobson purchased 18,200 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $109.91 per share, with a total value of $2,000,362.00. Following the transaction, the director now owns 7,804 shares of the company’s stock, valued at approximately $857,737.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lori A. Beer sold 13,341 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total value of $1,524,609.48. Following the completion of the sale, the insider now directly owns 10,130 shares of the company’s stock, valued at $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.
Shares of NYSE:JPM traded up $1.28 during trading on Friday, reaching $119.19. 4,041,310 shares of the stock were exchanged, compared to its average volume of 10,656,794. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.97 and a quick ratio of 0.97. JPMorgan Chase & Co. has a 1-year low of $91.11 and a 1-year high of $119.24. The stock has a fifty day moving average of $110.70 and a two-hundred day moving average of $109.63. The firm has a market cap of $373.69 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.69 and a beta of 1.19.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.32. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The company had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.52 billion. During the same period in the prior year, the firm earned $2.29 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 9.91 EPS for the current year.
JPMorgan Chase & Co. Profile
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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