LeConte Wealth Management LLC Makes New Investment in JPMorgan Chase & Co. $JPM

Key Points

• LeConte Wealth Management LLC purchased 1,883 shares of JPMorgan Chase & Co., valued at approximately $462,000, during the first quarter, indicating growing institutional interest in the bank.
• JPMorgan Chase & Co. reported $4.96 EPS for the last quarter, exceeding analyst expectations of $4.48, although revenue declined 10.5% year-over-year.
• Analyst ratings have been mixed, with a consensus rating of "Moderate Buy" and varying price targets ranging from $235.00 to $340.00.

LeConte Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,883 shares of the financial services provider's stock, valued at approximately $462,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest & Ethical Investments L.P. increased its holdings in JPMorgan Chase & Co. by 10.4% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 103,199 shares of the financial services provider's stock valued at $25,313,000 after acquiring an additional 9,758 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of JPMorgan Chase & Co. by 4.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 666,789 shares of the financial services provider's stock worth $163,563,000 after purchasing an additional 29,877 shares during the period. Knuff & Co LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.3% during the 1st quarter. Knuff & Co LLC now owns 2,369 shares of the financial services provider's stock worth $581,000 after purchasing an additional 54 shares during the period. Oder Investment Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.3% during the 1st quarter. Oder Investment Management LLC now owns 10,796 shares of the financial services provider's stock worth $2,648,000 after purchasing an additional 246 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC boosted its position in JPMorgan Chase & Co. by 5.0% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 65,974 shares of the financial services provider's stock valued at $16,183,000 after buying an additional 3,145 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JPM shares. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Trading Down 0.4%

Shares of JPM traded down $1.1610 during trading on Tuesday, reaching $290.3690. 6,028,918 shares of the company traded hands, compared to its average volume of 7,571,084. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. The stock has a market cap of $798.44 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. The stock has a 50-day simple moving average of $287.35 and a 200-day simple moving average of $263.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the previous year, the business posted $6.12 earnings per share. The business's quarterly revenue was down 10.5% compared to the same quarter last year. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.