Knightsbridge Asset Management LLC Takes $347,000 Position in JPMorgan Chase & Co. $JPM

Key Points

• Knightsbridge Asset Management LLC acquired a new position in JPMorgan Chase & Co. by purchasing 1,416 shares valued at approximately $347,000.
• Several institutional investors, including CKW Financial Group and Temasek Holdings, increased their holdings in JPMorgan Chase during the 1st quarter, indicating strong investor interest in the company.
• JPMorgan Chase reported $4.96 earnings per share for the last quarter, surpassing analysts' expectations of $4.48, despite a 10.5% decline in revenue compared to the previous year.

Knightsbridge Asset Management LLC acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,416 shares of the financial services provider's stock, valued at approximately $347,000.

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

JPMorgan Chase & Co. Price Performance

Shares of JPM stock traded up $2.86 during trading on Wednesday, hitting $300.71. The company had a trading volume of 7,786,372 shares, compared to its average volume of 6,695,318. 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 stock's 50-day moving average is $293.36 and its two-hundred day moving average is $266.44. The stock has a market capitalization of $826.89 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $201.83 and a 52 week high of $305.15.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America increased their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $291.67.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.47% of the company's stock.

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.