Parallel Advisors LLC Acquires 2,068 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Parallel Advisors LLC increased its holdings in JPMorgan Chase & Co. by 1.6%, acquiring an additional 2,068 shares, bringing their total to 132,465 shares valued at approximately $38.4 million.
• Several institutional investors, including Bank of New York Mellon Corp and GAMMA Investing LLC, have significantly increased their positions in JPMorgan Chase, indicating strong institutional interest.
• JPMorgan Chase has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a price target ranging around $291.67 to $340.00 depending on the firm.

Parallel Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,465 shares of the financial services provider's stock after purchasing an additional 2,068 shares during the period. JPMorgan Chase & Co. accounts for 0.8% of Parallel Advisors LLC's portfolio, making the stock its 21st largest position. Parallel Advisors LLC's holdings in JPMorgan Chase & Co. were worth $38,403,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after buying an additional 454,226 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after buying an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock valued at $4,523,588,000 after buying an additional 890,553 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after buying an additional 2,465,572 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JPM shares. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and a consensus price target of $291.67.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Up 0.4%

Shares of JPMorgan Chase & Co. stock opened at $306.88 on Monday. The company's fifty day simple moving average is $293.94 and its 200-day simple moving average is $267.44. The stock has a market capitalization of $843.84 billion, a PE ratio of 15.75, a P/E/G ratio of 2.04 and a beta of 1.13. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $307.55. 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 issued 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. The business had revenue of $44.91 billion for 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 company's revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $6.12 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share 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.

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