JPMorgan Chase & Co. $JPM Shares Purchased by Summit Financial LLC

Key Points

• Summit Financial LLC increased its stake in JPMorgan Chase & Co. by 31.0%, acquiring an additional 29,269 shares, bringing its total ownership to 123,545 shares valued at approximately $30.3 million.
• Insider trading has been notable, with COO Jennifer Piepszak selling 6,128 shares at an average price of $262.47, resulting in an 8.94% decrease in her ownership.
• Analyst ratings for JPMorgan Chase & Co. vary, with the stock receiving a mix of ratings, including one Strong Buy and three Sell ratings, reflecting a moderate overall sentiment.

Summit Financial LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 31.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,545 shares of the financial services provider's stock after acquiring an additional 29,269 shares during the period. JPMorgan Chase & Co. comprises 0.8% of Summit Financial LLC's holdings, making the stock its 20th largest position. Summit Financial LLC's holdings in JPMorgan Chase & Co. were worth $30,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the first quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the first quarter worth approximately $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the first quarter worth approximately $33,000. Measured Risk Portfolios Inc. purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $54,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 transaction, the chief operating officer owned 62,455 shares in the company, 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 filing with the SEC, which can be accessed through this link. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on JPM shares. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research report on Friday, June 27th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $291.0580 on Friday. The company has a market cap of $800.34 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. The stock's 50 day simple moving average is $288.29 and its 200-day simple moving average is $264.27. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

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