JPMorgan Chase & Co. $JPM Shares Bought by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC increased its holdings in JPMorgan Chase & Co. by 68.4%, now owning 8,573 shares worth approximately $2.10 million.
• JPMorgan Chase & Co. reported $4.96 earnings per share for the latest quarter, exceeding analyst expectations, though revenue decreased by 10.5% year-over-year.
• Institutional investors hold approximately 71.55% of JPMorgan Chase's stock, indicating strong interest from larger financial entities.

Redwood Investment Management LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 68.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,573 shares of the financial services provider's stock after buying an additional 3,481 shares during the period. Redwood Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission.

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

JPMorgan Chase & Co. Stock Up 0.1%

Shares of JPM stock traded up $0.39 during trading on Friday, reaching $301.46. The company's stock had a trading volume of 6,790,292 shares, compared to its average volume of 7,101,695. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $828.94 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 2.00 and a beta of 1.11. The stock's 50-day moving average price is $291.59 and its 200 day moving average price is $265.33. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $302.95.

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 for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during 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 business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.12 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of analyst reports. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Truist Financial boosted their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley boosted their price target on shares of 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. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given 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 price target 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.