Kayne Anderson Rudnick Investment Management LLC Boosts Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in JPMorgan Chase & Co. by 4.0%, owning 27,184 shares valued at approximately $6.67 million as of the end of the first quarter.
• Several institutional investors have also adjusted their positions in JPMorgan, with Florida Financial Advisors LLC raising its stake by 62.5% in the same period.
• JPMorgan reported $4.96 EPS for the last quarter, exceeding analysts' estimates, although its revenue decreased by 10.5% year-over-year.

Kayne Anderson Rudnick Investment Management LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,184 shares of the financial services provider's stock after buying an additional 1,050 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $6,668,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the first quarter valued at $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the first quarter valued at $33,000. Measured Risk Portfolios Inc. purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded up $1.53 during midday trading on Thursday, hitting $300.81. The company had a trading volume of 6,409,172 shares, compared to its average volume of 9,750,807. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $827.15 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.98 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29. The company has a fifty day moving average of $290.51 and a two-hundred day moving average of $264.94.

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 analysts' consensus estimates 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 quarter in the previous year, the company earned $6.12 EPS. JPMorgan Chase & Co.'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 fiscal year.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction 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 owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the subject of several recent research reports. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. HSBC restated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Bank of America boosted 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 boosted their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. 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 note on Monday, June 30th. 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 stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

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.