Ieq Capital LLC Purchases 21,020 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Ieq Capital LLC increased its stake in JPMorgan Chase & Co. by 7.0%, owning a total of 323,017 shares valued at approximately $79.24 million.
• Institutional investors hold around 71.55% of JPMorgan's stock, with several firms reporting increased investments in the last quarters.
• The company's last earnings report showed a 10.5% decrease in quarterly revenue compared to the previous year, despite beating EPS estimates of $4.48 with $4.96.

Ieq Capital LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,017 shares of the financial services provider's stock after acquiring an additional 21,020 shares during the quarter. JPMorgan Chase & Co. accounts for 0.6% of Ieq Capital LLC's portfolio, making the stock its 24th largest holding. Ieq Capital LLC's holdings in JPMorgan Chase & Co. were worth $79,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of JPM. GAMMA Investing LLC lifted its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Nuveen LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at about $3,972,807,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after purchasing an additional 2,465,572 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $454,042,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent research reports. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded up $0.39 during mid-day trading on Friday, hitting $301.46. 6,790,292 shares of the company's stock were exchanged, compared to its average volume of 9,732,874. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $302.95. The stock's 50-day simple moving average is $291.05 and its 200-day simple moving average is $265.15. The firm has a market cap of $828.94 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping 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 analysts' expectations of $43.76 billion. During the same period last year, the firm earned $6.12 earnings per share. The business's revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's 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 transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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.