Carmignac Gestion Takes $3.28 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Carmignac Gestion has acquired a new stake in JPMorgan Chase & Co., purchasing 13,374 shares valued at approximately $3.28 million.
• Wall Street analysts currently have a consensus rating of "Moderate Buy" for JPMorgan Chase & Co., with an average price target of $288.68.
• In the most recent earnings report, JPMorgan Chase & Co. reported $4.96 earnings per share, exceeding analysts' expectations of $4.48, despite a year-over-year revenue decline of 10.5%.

Carmignac Gestion purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,374 shares of the financial services provider's stock, valued at approximately $3,281,000.

Several other institutional investors and hedge funds have also modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Measured Risk Portfolios Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $54,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JPM shares. HSBC reaffirmed a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" 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. Robert W. Baird lowered shares of 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. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Up 0.5%

JPMorgan Chase & Co. stock opened at $292.1840 on Thursday. The firm has a market cap of $803.43 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.93 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. The firm has a fifty day moving average price of $287.83 and a two-hundred day moving average price of $264.10.

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 for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.12 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Activity at JPMorgan Chase & Co.

In other 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

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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