Centric Wealth Management Purchases 1,680 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Centric Wealth Management increased its stake in JPMorgan Chase & Co. by 12.8% in Q1, now owning 14,793 shares valued at approximately $3.63 million.
• Several large investors, including GAMMA Investing LLC and Nuveen LLC, significantly boosted their holdings in JPMorgan, indicating strong institutional interest in the stock.
• Analysts have varied ratings on JPMorgan, with a consensus rating of "Moderate Buy" and a price target averaging $288.68.

Centric Wealth Management raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 12.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,793 shares of the financial services provider's stock after buying an additional 1,680 shares during the period. JPMorgan Chase & Co. comprises 0.9% of Centric Wealth Management's investment portfolio, making the stock its 27th largest position. Centric Wealth Management's holdings in JPMorgan Chase & Co. were worth $3,629,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Measured Risk Portfolios Inc. bought a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $44,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $54,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on JPM. Bank of America raised their price target 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. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report 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, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Price Performance

NYSE JPM traded down $2.05 during mid-day trading on Tuesday, hitting $299.37. The stock had a trading volume of 7,059,169 shares, compared to its average volume of 9,716,733. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $302.95. The company has a market cap of $823.19 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 2.00 and a beta of 1.13. 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 company has a 50 day simple moving average of $292.05 and a 200 day simple moving average of $265.36.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for 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 company's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $6.12 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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.