Sound Income Strategies LLC Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Sound Income Strategies LLC increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 23.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,196 shares of the financial services provider’s stock after purchasing an additional 787 shares during the quarter. Sound Income Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $472,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JPM. Dravo Bay LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $26,000. Advanced Research Investment Solutions LLC boosted its stake in JPMorgan Chase & Co. by 118.2% during the first quarter. Advanced Research Investment Solutions LLC now owns 288 shares of the financial services provider’s stock valued at $39,000 after buying an additional 156 shares during the last quarter. Swaine & Leidel Wealth Services LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $44,000. Landmark Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $46,000. Finally, Cordant Inc. bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $47,000. Hedge funds and other institutional investors own 68.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on JPM. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $150.00 to $156.00 in a research note on Tuesday, May 24th. Piper Sandler dropped their price target on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $148.00 price target (up from $142.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 24th. Barclays set a $200.00 price target on JPMorgan Chase & Co. in a research note on Monday, July 18th. Finally, Morgan Stanley dropped their price target on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating for the company in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $145.95.

JPMorgan Chase & Co. Trading Up 0.9 %

Shares of NYSE JPM opened at $118.16 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.83 and a current ratio of 0.83. The business’s 50 day moving average price is $115.85 and its 200-day moving average price is $122.52. JPMorgan Chase & Co. has a fifty-two week low of $106.06 and a fifty-two week high of $172.96. The company has a market cap of $346.51 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 2.07 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last issued its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, hitting the consensus estimate of $2.76. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The firm had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $31.82 billion. During the same period in the prior year, the business posted $3.78 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 11.32 earnings per share for the current year.

About JPMorgan Chase & Co.

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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.

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

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