Apella Capital LLC Raises Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Apella Capital LLC has increased its position in JPMorgan Chase & Co. by 75.5%, now owning 22,284 shares valued at approximately $6.5 million following a purchase of an additional 9,588 shares in the second quarter.
• During the same period, other large investors also increased their stakes in JPMorgan, with institutional investors now holding 71.55% of the stock.
• JPMorgan Chase reported earnings of $4.96 EPS for the last quarter, exceeding expectations, although revenue for the quarter was down 10.5% year-over-year.

Apella Capital LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 75.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,284 shares of the financial services provider's stock after purchasing an additional 9,588 shares during the quarter. Apella Capital LLC's holdings in JPMorgan Chase & Co. were worth $6,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of JPM. Boltwood Capital Management increased its holdings in shares of JPMorgan Chase & Co. by 2.9% in the second quarter. Boltwood Capital Management now owns 16,913 shares of the financial services provider's stock worth $4,903,000 after purchasing an additional 478 shares during the period. Heartwood Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 6.4% in the 2nd quarter. Heartwood Wealth Advisors LLC now owns 7,359 shares of the financial services provider's stock worth $2,133,000 after acquiring an additional 442 shares during the last quarter. Gallacher Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 111.8% in the 2nd quarter. Gallacher Capital Management LLC now owns 1,798 shares of the financial services provider's stock valued at $521,000 after acquiring an additional 949 shares in the last quarter. Cultivar Capital Inc. boosted its position in shares of JPMorgan Chase & Co. by 74.2% during the 2nd quarter. Cultivar Capital Inc. now owns 3,832 shares of the financial services provider's stock valued at $1,111,000 after acquiring an additional 1,632 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.6% during the second quarter. Parallel Advisors LLC now owns 132,465 shares of the financial services provider's stock worth $38,403,000 after purchasing an additional 2,068 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.4%

JPMorgan Chase & Co. stock opened at $306.88 on Monday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $307.55. The stock has a fifty day simple moving average of $293.94 and a two-hundred day simple moving average of $267.44. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market cap of $843.84 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 2.04 and a beta of 1.13.

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, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the company earned $6.12 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $291.67.

JPMorgan Chase & Co. Company 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.

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