JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,361 shares of the financial services provider’s stock after buying an additional 8,403 shares during the quarter. Fred Alger Management LLC’s holdings in JPMorgan Chase & Co. were worth $9,652,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Grayhawk Investment Strategies Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. HBC Financial Services PLLC grew its stake in shares of JPMorgan Chase & Co. by 61.2% in the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after buying an additional 90 shares in the last quarter. Horizons Wealth Management acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $39,000. New Millennium Group LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $39,000. Finally, Bellwether Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 119.1% in the third quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock valued at $51,000 after buying an additional 268 shares in the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mary E. Erdoes sold 10,340 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.29, for a total value of $1,450,598.60. Following the sale, the chief executive officer now owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 375 shares of the stock in a transaction that occurred on Thursday, January 19th. The shares were purchased at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the transaction, the director now directly owns 22,040 shares in the company, valued at $2,965,041.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mary E. Erdoes sold 10,340 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total value of $1,450,598.60. Following the completion of the sale, the chief executive officer now owns 544,136 shares in the company, valued at $76,336,839.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,887 shares of company stock valued at $5,315,762. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 2.6 %

Shares of NYSE JPM opened at $134.62 on Wednesday. The company has a market cap of $396.23 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 2.07 and a beta of 1.12. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. The stock’s 50 day simple moving average is $139.56 and its 200 day simple moving average is $129.12.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.46. The business had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $3.33 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

Wall Street Analyst Weigh In

JPM has been the subject of a number of analyst reports. UBS Group set a $156.00 price target on JPMorgan Chase & Co. in a report on Friday, January 13th. Barclays increased their price target on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Oppenheimer increased their price target on JPMorgan Chase & Co. from $177.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Royal Bank of Canada set a $130.00 price target on JPMorgan Chase & Co. in a report on Friday, January 13th. Finally, Deutsche Bank Aktiengesellschaft downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their price target for the company from $155.00 to $145.00 in a report on Friday, January 6th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $150.78.

JPMorgan Chase & Co. Profile

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JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.