Northwestern Mutual Wealth Management Co. Buys 39,142 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in JPMorgan Chase & Co. by 3.8%, acquiring an additional 39,142 shares to bring its total ownership to over 1 million shares valued at approximately $261.81 million.
• JPMorgan's quarterly earnings surpassed expectations, reporting $4.96 EPS compared to the consensus estimate of $4.48, with revenues reaching $44.91 billion.
• Currently, institutional investors own 71.55% of JPM stock, indicating strong institutional interest and confidence in the company's future performance.

Northwestern Mutual Wealth Management Co. boosted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,067,306 shares of the financial services provider's stock after acquiring an additional 39,142 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in JPMorgan Chase & Co. were worth $261,810,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in JPM. Brighton Jones LLC boosted its holdings in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after buying an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE boosted its holdings in shares of JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after buying an additional 1,893 shares in the last quarter. KKM Financial LLC boosted its holdings in shares of JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after buying an additional 640 shares in the last quarter. Finally, Topsail Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $1,159,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $295.9920 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock's fifty day simple moving average is $288.92 and its two-hundred day simple moving average is $264.46. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The stock has a market cap of $813.91 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the business earned $6.12 EPS. The business's revenue was down 10.5% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JPM. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Truist Financial increased their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction 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 directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.

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