Prentice Wealth Management LLC Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Prentice Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,206 shares of the financial services provider’s stock after buying an additional 182 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.7% of Prentice Wealth Management LLC’s investment portfolio, making the stock its 19th largest position. Prentice Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,484,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 105,652.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after buying an additional 97,907,897 shares during the last quarter. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $3,894,646,000. Price T Rowe Associates Inc. MD increased its holdings in shares of JPMorgan Chase & Co. by 71.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock valued at $4,087,917,000 after purchasing an additional 12,654,947 shares during the last quarter. Morgan Stanley lifted its position in JPMorgan Chase & Co. by 15.9% during the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares in the last quarter. Finally, Providence Capital Advisors LLC boosted its stake in JPMorgan Chase & Co. by 13,205.6% during the first quarter. Providence Capital Advisors LLC now owns 5,395,818 shares of the financial services provider’s stock worth $41,407,000 after buying an additional 5,355,265 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the transaction, the general counsel now directly owns 53,425 shares of the company’s stock, valued at approximately $7,739,145.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JPM. 888 reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 26th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a research note on Monday, July 17th. HSBC assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, September 7th. They issued a “hold” rating and a $159.00 target price on the stock. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $173.00 to $179.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $158.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, September 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.21.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $148.85 on Friday. The firm has a market capitalization of $432.57 billion, a P/E ratio of 9.58, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $159.38. The business’s 50-day moving average is $150.79 and its two-hundred day moving average is $141.56.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. The business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The business’s revenue was up 34.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.76 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 15.58 earnings per share for the current fiscal 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, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.