Cim LLC Purchases New Position in JPMorgan Chase & Co. $JPM

Key Points

• Cim LLC purchased a new stake in JPMorgan Chase & Co., acquiring 8,666 shares valued at approximately $2,126,000 in the 1st quarter.
• As of the most recent report, institutional investors own 71.55% of JPMorgan Chase & Co.'s stock, with several other hedge funds also making new investments.
• JPMorgan Chase & Co. reported $4.96 EPS for the last quarter, beating estimates, but its revenue decreased 10.5% year-over-year.

Cim LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 8,666 shares of the financial services provider's stock, valued at approximately $2,126,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Capital A Wealth Management LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $64,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $72,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.6%

JPMorgan Chase & Co. stock opened at $305.39 on Friday. 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. has a 12-month low of $202.16 and a 12-month high of $305.73. The firm's fifty day moving average is $293.72 and its 200 day moving average is $266.98. The company has a market capitalization of $839.75 billion, a PE ratio of 15.67, a PEG 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, 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 company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the company earned $6.12 EPS. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This 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 hyperlink. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JPM. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Bank of America upped 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. TD Cowen started 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 objective on the stock. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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