JPMorgan Chase & Co. $JPM Shares Acquired by Smartleaf Asset Management LLC

Key Points

• Smartleaf Asset Management LLC increased its stake in JPMorgan Chase & Co. by 3.6% during the first quarter, holding 40,129 shares valued at approximately $9.7 million.
• JPMorgan Chase recently reported $4.96 EPS, exceeding estimates, despite a 10.5% year-over-year decline in revenue for the quarter at $44.91 billion.
• The stock currently has a consensus rating of "Moderate Buy" with an average target price of $288.68, as per recent analyst reports.

Smartleaf Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,129 shares of the financial services provider's stock after buying an additional 1,392 shares during the period. JPMorgan Chase & Co. makes up approximately 0.9% of Smartleaf Asset Management LLC's holdings, making the stock its 12th largest position. Smartleaf Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $9,745,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Wimmer Associates 1 LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after buying an additional 40 shares during the period. Twin Lakes Capital Management LLC lifted its position in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after purchasing an additional 40 shares during the period. First Command Advisory Services Inc. lifted its position in JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after purchasing an additional 40 shares during the period. Black Swift Group LLC lifted its position in JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after purchasing an additional 40 shares during the period. Finally, Beacon Bridge Wealth Partners LLC lifted its position in JPMorgan Chase & Co. by 1.8% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $295.9920 on Friday. The firm has a 50 day moving average of $288.92 and a 200-day moving average of $264.46. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a market cap of $813.91 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the firm earned $6.12 EPS. The company's revenue for the quarter 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.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction 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 trade represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

JPM has been the subject of a number of recent analyst reports. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. HSBC restated a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Finally, Bank of America raised 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 report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently 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.

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.