Baird Financial Group Inc. Has $1.50 Billion Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Baird Financial Group Inc. increased its stake in JPMorgan Chase & Co. by 2.3%, acquiring an additional 139,669 shares, now holding a total of approximately 6.1 million shares.
• JPMorgan Chase & Co. reported $4.96 earnings per share for the latest quarter, exceeding analysts' expectations of $4.48, and had a revenue of $44.91 billion.
• Analyst ratings on JPMorgan Chase & Co. are mixed, with a consensus average rating of "Moderate Buy" and price targets ranging from $235 to $340.

Baird Financial Group Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,106,370 shares of the financial services provider's stock after acquiring an additional 139,669 shares during the period. JPMorgan Chase & Co. accounts for 2.9% of Baird Financial Group Inc.'s holdings, making the stock its 3rd biggest holding. Baird Financial Group Inc. owned about 0.22% of JPMorgan Chase & Co. worth $1,497,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in JPM. Florida Financial Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $471,000. Crown Wealth Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.8% in the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after buying an additional 78 shares during the last quarter. Finally, Morse Asset Management Inc raised its holdings in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after purchasing an additional 420 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on JPM shares. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Truist Financial boosted their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Morgan Stanley boosted their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. 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 analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. According to 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. Trading Down 0.7%

Shares of JPMorgan Chase & Co. stock traded down $2.05 during mid-day trading on Tuesday, hitting $299.37. 5,145,251 shares of the stock were exchanged, compared to its average volume of 9,702,286. The company has a 50-day simple moving average of $292.05 and a 200 day simple moving average of $265.36. 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. has a twelve month low of $200.61 and a twelve month high of $302.95. The stock has a market capitalization of $823.19 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the company earned $6.12 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Activity

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

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.