Advisors Capital Management LLC Has $109.08 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Advisors Capital Management LLC increased its stake in JPMorgan Chase & Co. by 0.6%, now holding 444,671 shares valued at approximately $109 million.
• In Q1, other hedge funds also increased their positions in JPMorgan Chase, with increases ranging from 2.4% to 36.9% across multiple firms.
• JPMorgan reported earnings per share (EPS) of $4.96 for the last quarter, exceeding analysts' estimates by $0.48, despite a 10.5% year-over-year revenue decline.

Advisors Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 444,671 shares of the financial services provider's stock after purchasing an additional 2,647 shares during the period. JPMorgan Chase & Co. accounts for about 1.7% of Advisors Capital Management LLC's holdings, making the stock its 6th biggest holding. Advisors Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $109,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC boosted its position in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after buying an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $471,000. Crown Wealth Group LLC boosted its position in JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC boosted its position in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after buying an additional 78 shares during the last quarter. Finally, Morse Asset Management Inc boosted its position in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after buying an additional 420 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JPM has been the subject of a number of analyst reports. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.67.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded up $1.94 during trading hours on Monday, hitting $308.85. The stock had a trading volume of 1,838,720 shares, compared to its average volume of 9,578,469. The stock's fifty day simple moving average is $293.94 and its 200 day simple moving average is $267.44. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $309.95. The firm has a market capitalization of $849.26 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.04 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

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 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the business earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

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.