Private Client Services LLC Grows Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Private Client Services LLC increased its holdings in JPMorgan Chase & Co. by 20.6% in Q2, bringing its total shares to 8,310 valued at approximately $2.4 million.
• Other institutional investors also significantly increased their stakes, with GAMMA Investing LLC raising its holdings by an astonishing 25,861.9% during the first quarter.
• JPMorgan Chase recently reported earnings of $4.96 per share, surpassing estimates and reflecting a 10.5% year-over-year revenue decline.

Private Client Services LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 20.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,310 shares of the financial services provider's stock after purchasing an additional 1,419 shares during the quarter. Private Client Services LLC's holdings in JPMorgan Chase & Co. were worth $2,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Nuveen LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $3,972,807,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in JPMorgan Chase & Co. by 16.3% during the 4th 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 worth $4,207,028,000 after acquiring an additional 2,465,572 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $454,042,000. Finally, National Bank of Canada FI raised its stake in JPMorgan Chase & Co. by 44.4% during the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after acquiring an additional 1,388,992 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.4%

Shares of JPM opened at $306.88 on Friday. 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. has a 1 year low of $202.16 and a 1 year high of $307.55. The company has a 50 day simple moving average of $293.94 and a two-hundred day simple moving average of $267.32. The firm has a market cap of $843.84 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $43.76 billion. During the same period last year, the firm posted $6.12 EPS. The company's revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. 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 research note on Wednesday, July 9th. HSBC restated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. 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 research note on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Finally, Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.67.

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.

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