Leith Wheeler Investment Counsel Ltd. Grows Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Leith Wheeler Investment Counsel Ltd. increased its stake in JPMorgan Chase & Co. by 4.6%, holding 75,877 shares valued at approximately $18.6 million as of the latest SEC filing.
• JPMorgan Chase & Co. reported a quarterly earnings per share of $4.96, exceeding analyst estimates, but its revenue saw a 10.5% year-over-year decline.
• As of now, 71.55% of JPMorgan's stock is owned by hedge funds and institutional investors, reflecting strong institutional interest in the company.

Leith Wheeler Investment Counsel Ltd. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,877 shares of the financial services provider's stock after acquiring an additional 3,356 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.3% of Leith Wheeler Investment Counsel Ltd.'s portfolio, making the stock its 21st biggest position. Leith Wheeler Investment Counsel Ltd.'s holdings in JPMorgan Chase & Co. were worth $18,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

JPM has been the subject of a number of recent research reports. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company 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 given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on 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 directly owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Price Performance

JPM stock traded down $1.42 during midday trading on Tuesday, hitting $290.11. The company's stock had a trading volume of 3,341,854 shares, compared to its average volume of 9,863,949. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. 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 firm has a market capitalization of $797.73 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. The company has a 50 day moving average of $286.92 and a two-hundred day moving average of $263.72.

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

JPMorgan Chase & Co. Company 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.