MJP Associates Inc. ADV Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

MJP Associates Inc. ADV grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,113 shares of the financial services provider’s stock after buying an additional 566 shares during the period. MJP Associates Inc. ADV’s holdings in JPMorgan Chase & Co. were worth $1,251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sandy Cove Advisors LLC raised its position in JPMorgan Chase & Co. by 8.5% in the 1st quarter. Sandy Cove Advisors LLC now owns 4,137 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 324 shares during the period. Clarity Wealth Advisors LLC raised its position in JPMorgan Chase & Co. by 10.2% in the 1st quarter. Clarity Wealth Advisors LLC now owns 20,997 shares of the financial services provider’s stock worth $2,862,000 after purchasing an additional 1,944 shares during the period. Financial Strategies Group Inc. raised its position in JPMorgan Chase & Co. by 20.0% in the 1st quarter. Financial Strategies Group Inc. now owns 5,500 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 916 shares during the period. Alpha Omega Wealth Management LLC raised its position in JPMorgan Chase & Co. by 1.5% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 37,664 shares of the financial services provider’s stock worth $5,134,000 after purchasing an additional 557 shares during the period. Finally, Cordant Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth $47,000. Hedge funds and other institutional investors own 68.57% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.7 %

Shares of JPM opened at $117.08 on Monday. The firm’s 50-day moving average price is $115.85 and its 200-day moving average price is $122.63. The firm has a market capitalization of $343.35 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 2.07 and a beta of 1.10. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.14. JPMorgan Chase & Co. has a 1-year low of $106.06 and a 1-year high of $172.96.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last announced its earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.76. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The firm had revenue of $30.72 billion for the quarter, compared to analyst estimates of $31.82 billion. During the same quarter in the previous year, the firm posted $3.78 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 11.32 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Societe Generale upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $150.00 in a research report on Tuesday, May 24th. Barclays set a $200.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 18th. Credit Suisse Group set a $145.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, August 8th. Morgan Stanley cut their price target on shares of JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a report on Tuesday, July 12th. Finally, Jefferies Financial Group set a $117.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $145.95.

JPMorgan Chase & Co. Company Profile

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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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.

Further Reading

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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