AQR Capital Management LLC Buys 518,757 Shares of JPMorgan Chase & Co. $JPM

Key Points

• AQR Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 56.9% during the 1st quarter, now owning 1,429,783 shares valued at approximately $342 million.
• Insider transactions include Director Linda Bammann selling 9,500 shares for around $2.83 million, reducing her ownership by 10.36%.
• Analysts have set varied price objectives for JPMorgan stock, with Royal Bank of Canada estimating a target of $305.00 and Wells Fargo increasing their target to $325.00.

AQR Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 56.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,429,783 shares of the financial services provider's stock after acquiring an additional 518,757 shares during the quarter. AQR Capital Management LLC owned approximately 0.05% of JPMorgan Chase & Co. worth $342,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $33,000. Measured Risk Portfolios Inc. acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $54,000. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on JPM shares. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. HSBC reissued a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $291.67.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded down $9.04 during mid-day trading on Friday, reaching $294.79. 9,831,520 shares of the company's stock were exchanged, compared to its average volume of 6,437,430. The business's fifty day simple moving average is $293.16 and its 200 day simple moving average is $266.12. The firm has a market capitalization of $810.59 billion, a PE ratio of 15.12, a P/E/G ratio of 2.02 and a beta of 1.13. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $305.15. 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 issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $6.12 earnings per share. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Activity

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

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.