Empowered Funds LLC Has $43.02 Million Stake in JPMorgan Chase & Co. $JPM

Key Points

• Empowered Funds LLC has increased its stake in JPMorgan Chase & Co. by 39.2%, now holding 175,355 shares valued at approximately $43.02 million.
• JPMorgan Chase reported earnings of $4.96 EPS, exceeding expectations and revealing a revenue of $44.91 billion, although its revenue was down by 10.5% year-over-year.
• The stock has a consensus rating of "Moderate Buy" with an average target price of $291.67, amidst various analysts adjusting their ratings and price objectives.

Empowered Funds LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 39.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 175,355 shares of the financial services provider's stock after acquiring an additional 49,417 shares during the period. JPMorgan Chase & Co. accounts for about 0.6% of Empowered Funds LLC's holdings, making the stock its 17th largest position. Empowered Funds LLC's holdings in JPMorgan Chase & Co. were worth $43,015,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $28,000. University of Illinois Foundation acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $30,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $33,000. Measured Risk Portfolios Inc. acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $293.01 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $805.70 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.96 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 business has a 50 day simple moving average of $293.21 and a 200 day simple moving average of $266.22.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The business 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 revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $6.12 EPS. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. HSBC reiterated a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $291.67.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.