Apexium Financial LP Boosts Stake in JPMorgan Chase & Co. $JPM

Key Points

• Apexium Financial LP increased its stake in JPMorgan Chase & Co. by 92.1% in the first quarter, owning 46,792 shares valued at approximately $11.48 million.
• Other hedge funds, including MJT & Associates and University of Illinois Foundation, have also made new purchases of JPMorgan Chase & Co. shares, reflecting a growing institutional interest as they own 71.55% of the company's stock.
• Analysts have varied opinions on JPMorgan Chase, with one rating it as a Strong Buy and others giving it Hold or Moderate Sell ratings, indicating a diverse outlook among financial experts.

Apexium Financial LP increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 92.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 46,792 shares of the financial services provider's stock after purchasing an additional 22,438 shares during the period. JPMorgan Chase & Co. makes up approximately 0.7% of Apexium Financial LP's investment portfolio, making the stock its 24th largest position. Apexium Financial LP's holdings in JPMorgan Chase & Co. were worth $11,478,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of the company'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 transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $295.9920 on Friday. The firm has a 50 day simple moving average of $288.92 and a 200-day simple moving average of $264.42. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $813.90 billion, a PE ratio of 15.19, a P/E/G ratio of 1.97 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted 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 business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the previous year, the business posted $6.12 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

About JPMorgan Chase & Co.

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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