JPMorgan Chase & Co. $JPM Shares Acquired by ZEGA Investments LLC

Key Points

• ZEGA Investments LLC increased its stake in JPMorgan Chase & Co. by 44.3%, now holding 6,789 shares valued at approximately $1.67 million.
• JPMorgan Chase & Co. reported $4.96 earnings per share for the last quarter, exceeding estimates, despite a revenue decline of 10.5% year-over-year.
• The stock has an average analyst rating of "Moderate Buy," with target price estimates ranging from $259.00 to $305.00.

ZEGA Investments LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 44.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,789 shares of the financial services provider's stock after acquiring an additional 2,083 shares during the quarter. ZEGA Investments LLC's holdings in JPMorgan Chase & Co. were worth $1,665,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Measured Risk Portfolios Inc. acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds 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 on 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on JPM shares. HSBC reaffirmed a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Truist Financial increased their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Finally, Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Trading Up 0.5%

Shares of JPMorgan Chase & Co. stock opened at $292.1840 on Thursday. The firm has a market capitalization of $803.43 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.93 and a beta of 1.11. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. 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 stock has a 50 day moving average of $287.83 and a 200 day moving average of $264.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $6.12 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

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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