Jacobi Capital Management LLC Purchases 1,024 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Jacobi Capital Management LLC increased its stake in JPMorgan Chase & Co. by 2.4%, now holding 43,031 shares valued at approximately $10.56 million.
• JPMorgan Chase & Co. reported $4.96 EPS for the latest quarter, exceeding estimates, despite a 10.5% decline in revenue year-over-year.
• Institutional investors collectively own 71.55% of JPMorgan Chase & Co.'s stock, indicating strong institutional interest in the company.

Jacobi Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,031 shares of the financial services provider's stock after purchasing an additional 1,024 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Jacobi Capital Management LLC's investment portfolio, making the stock its 18th biggest holding. Jacobi Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $10,556,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the 1st quarter worth $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter worth $33,000. Minot DeBlois Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $54,000. Finally, Capital A Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $64,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.0%

Shares of JPM opened at $300.71 on Thursday. JPMorgan Chase & Co. has a 52-week low of $201.83 and a 52-week high of $305.15. The business's fifty day moving average is $293.54 and its 200-day moving average is $266.68. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $826.89 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.98 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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 company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the company posted $6.12 EPS. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value 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 trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed 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 research firms have commented on JPM. Bank of America raised their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $291.67.

JPMorgan Chase & Co. 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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