Pinnacle Wealth Planning Services Inc. Grows Stake in JPMorgan Chase & Co. $JPM

Key Points

• Pinnacle Wealth Planning Services Inc. increased its holdings in JPMorgan Chase & Co. by 9.1% in the first quarter, bringing its total value in the stock to approximately $4.01 million.
• Institutional investors now own 71.55% of JPMorgan's stock, with notable increases from firms like GAMMA Investing LLC and Nuveen LLC during the first quarter.
• JPMorgan Chase reported $4.96 earnings per share, exceeding analysts' expectations, but its quarterly revenue was down 10.5% compared to the same quarter last year.

Pinnacle Wealth Planning Services Inc. increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,328 shares of the financial services provider's stock after buying an additional 1,364 shares during the quarter. JPMorgan Chase & Co. comprises about 0.6% of Pinnacle Wealth Planning Services Inc.'s portfolio, making the stock its 28th biggest position. Pinnacle Wealth Planning Services Inc.'s holdings in JPMorgan Chase & Co. were worth $4,005,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Panagora Asset Management Inc. grew its holdings in shares of JPMorgan Chase & Co. by 8.6% in the first quarter. Panagora Asset Management Inc. now owns 854,972 shares of the financial services provider's stock valued at $209,725,000 after acquiring an additional 67,898 shares in the last quarter. Activest Wealth Management grew its holdings in JPMorgan Chase & Co. by 8.3% during the first quarter. Activest Wealth Management now owns 5,123 shares of the financial services provider's stock valued at $1,257,000 after purchasing an additional 392 shares during the period. Vident Advisory LLC grew its holdings in JPMorgan Chase & Co. by 17.6% during the first quarter. Vident Advisory LLC now owns 129,454 shares of the financial services provider's stock valued at $31,757,000 after purchasing an additional 19,350 shares during the period. Gordian Capital Singapore Pte Ltd grew its holdings in JPMorgan Chase & Co. by 112.9% during the first quarter. Gordian Capital Singapore Pte Ltd now owns 12,880 shares of the financial services provider's stock valued at $3,134,000 after purchasing an additional 6,830 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of JPMorgan Chase & Co. by 8.0% during the first quarter. Canada Pension Plan Investment Board now owns 4,166,815 shares of the financial services provider's stock worth $1,022,120,000 after acquiring an additional 307,855 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock traded up $0.39 during mid-day trading on Friday, reaching $301.46. 6,790,292 shares of the company's stock traded hands, compared to its average volume of 6,841,159. The firm has a market capitalization of $828.94 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50 day moving average price of $291.59 and a two-hundred day moving average price of $265.18. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $302.95.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate 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 business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the firm earned $6.12 EPS. The business's revenue was down 10.5% on a year-over-year basis. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares of the company's stock, 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 this hyperlink. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on JPM. Truist Financial increased their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Keefe, Bruyette & Woods raised their price objective 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, TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. One equities 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

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.