Erste Asset Management GmbH Raises Position in JPMorgan Chase & Co. $JPM

Key Points

• Erste Asset Management GmbH has increased its stake in JPMorgan Chase & Co. by 2.3%, owning a total of 193,335 shares valued at approximately $47.19 million.
• Multiple institutional investors, including Northern Trust Corp and GAMMA Investing LLC, have also significantly raised their stakes in JPMorgan Chase during recent quarters.
• Despite the company's recent earnings report showing a 10.5% year-over-year revenue decline, JPMorgan Chase beat earnings expectations with $4.96 EPS, exceeding analysts’ forecasts of $4.48.

Erste Asset Management GmbH grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,335 shares of the financial services provider's stock after purchasing an additional 4,382 shares during the period. Erste Asset Management GmbH's holdings in JPMorgan Chase & Co. were worth $47,192,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp raised its stake in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after acquiring an additional 454,226 shares during the last quarter. GAMMA Investing LLC raised its stake in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after acquiring an additional 548,853 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in JPMorgan Chase & Co. by 16.3% in 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 during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $292.1840 on Thursday. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $803.43 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. The stock's 50-day moving average price is $287.83 and its 200-day moving average price is $264.10.

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, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the firm earned $6.12 EPS. The company's quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on JPM shares. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Truist Financial increased their price target on 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 increased their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Bank of America increased their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company increased their price target 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, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $288.68.

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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