Ethic Inc. Boosts Stake in JPMorgan Chase & Co. $JPM

Key Points

• Ethic Inc. increased its stake in JPMorgan Chase & Co. by 14.8% during the first quarter, acquiring an additional 8,166 shares, bringing its total holdings to 63,515 shares valued at $15,476,000.
• JPMorgan Chase reported earnings of $4.96 per share for the latest quarter, which exceeded analysts' expectations of $4.48, although revenue dropped by 10.5% compared to the previous year.
• Research firms have mixed ratings for JPMorgan Chase, with target prices set between $275.00 and $305.00 amid a consensus rating of "Moderate Buy."

Ethic Inc. lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 14.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,515 shares of the financial services provider's stock after acquiring an additional 8,166 shares during the quarter. Ethic Inc.'s holdings in JPMorgan Chase & Co. were worth $15,476,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. High Falls Advisors Inc raised its position in shares of JPMorgan Chase & Co. by 0.9% during the 1st quarter. High Falls Advisors Inc now owns 6,808 shares of the financial services provider's stock worth $1,670,000 after purchasing an additional 64 shares during the last quarter. Aberdeen Group plc increased its position in JPMorgan Chase & Co. by 15.7% during the 1st quarter. Aberdeen Group plc now owns 2,344,483 shares of the financial services provider's stock worth $568,174,000 after purchasing an additional 318,986 shares in the last quarter. Providence Capital Advisors LLC increased its position in JPMorgan Chase & Co. by 1.0% during the 1st quarter. Providence Capital Advisors LLC now owns 43,235 shares of the financial services provider's stock worth $10,606,000 after purchasing an additional 419 shares in the last quarter. Fox Run Management L.L.C. raised its stake in JPMorgan Chase & Co. by 265.2% in the 1st quarter. Fox Run Management L.L.C. now owns 5,390 shares of the financial services provider's stock valued at $1,322,000 after purchasing an additional 3,914 shares during the last quarter. Finally, KLCM Advisors Inc. lifted its holdings in JPMorgan Chase & Co. by 8.3% in the 1st quarter. KLCM Advisors Inc. now owns 15,834 shares of the financial services provider's stock valued at $3,884,000 after purchasing an additional 1,211 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.4%

Shares of JPM stock traded down $1.1610 on Tuesday, reaching $290.3690. 6,028,918 shares of the stock were exchanged, compared to its average volume of 9,882,434. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The stock has a market cap of $798.44 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. 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 firm has a 50 day moving average of $286.92 and a two-hundred day moving average of $263.72.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the firm earned $6.12 EPS. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent research reports. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. HSBC reaffirmed a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction on Thursday, June 5th. The stock was 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 directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed 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.