Algert Global LLC Increases Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Algert Global LLC has increased its holdings in JPMorgan Chase & Co. by 11.8% in the first quarter, owning 17,885 shares valued at approximately $4.39 million.
• Analysts have adjusted target prices for JPMorgan, with Bank of America raising their target from $330 to $340, while the consensus rating remains a "Moderate Buy".
• JPMorgan's recent earnings report revealed an EPS of $4.96, exceeding estimates, but the firm's quarterly revenue was down 10.5% from last year.

Algert Global LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,885 shares of the financial services provider's stock after buying an additional 1,885 shares during the quarter. Algert Global LLC's holdings in JPMorgan Chase & Co. were worth $4,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of JPM. Brighton Jones LLC lifted its position in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after buying an additional 1,229 shares during the period. Highview Capital Management LLC DE raised its holdings in shares of JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after acquiring an additional 1,893 shares in the last quarter. KKM Financial LLC raised its holdings in shares of JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after acquiring an additional 640 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 7.9% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 26,134 shares of the financial services provider's stock valued at $6,265,000 after acquiring an additional 1,923 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on JPM shares. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price for the company. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Truist Financial upped their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Down 0.4%

Shares of NYSE JPM traded down $1.1610 during trading on Tuesday, reaching $290.3690. The company had a trading volume of 6,028,918 shares, compared to its average volume of 7,571,084. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29. The stock has a market cap of $798.44 billion, a PE ratio of 14.90, a P/E/G ratio of 1.94 and a beta of 1.11. The business's 50-day moving average is $287.35 and its 200 day moving average is $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 released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the firm posted $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

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.