Ascent Group LLC Boosts Stake in JPMorgan Chase & Co. $JPM

Key Points

• Ascent Group LLC increased its stake in JPMorgan Chase & Co. by 18.3%, acquiring an additional 11,537 shares during the first quarter, resulting in a total of 74,425 shares worth approximately $18.25 million.
• Director Linda Bammann sold 9,500 shares of JPMorgan Chase at an average price of $297.94, which led to a 10.36% reduction in her ownership position.
• Analysts have varying opinions on JPMorgan Chase, with target prices ranging from $291.67 to $325.00 and a consensus rating of "Moderate Buy."

Ascent Group LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 18.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,425 shares of the financial services provider's stock after buying an additional 11,537 shares during the quarter. JPMorgan Chase & Co. accounts for 0.8% of Ascent Group LLC's investment portfolio, making the stock its 24th largest position. Ascent Group LLC's holdings in JPMorgan Chase & Co. were worth $18,257,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $3,972,807,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of JPMorgan Chase & Co. by 16.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after acquiring an additional 2,465,572 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $454,042,000. Finally, National Bank of Canada FI increased its holdings in shares of JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock valued at $1,108,415,000 after acquiring an additional 1,388,992 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

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

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $2.86 on Wednesday, reaching $300.71. 7,786,372 shares of the stock were exchanged, compared to its average volume of 6,695,318. The firm has a market capitalization of $826.89 billion, a PE ratio of 15.51, a PEG ratio of 1.98 and a beta of 1.13. JPMorgan Chase & Co. has a 1-year low of $201.83 and a 1-year high of $305.15. The business has a fifty day moving average price of $293.36 and a two-hundred day moving average price of $266.44. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates 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 quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $6.12 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. HSBC restated a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $291.67.

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.