Saudi Central Bank Buys Shares of 1,108 JPMorgan Chase & Co. $JPM

Key Points

• The Saudi Central Bank has purchased 1,108 shares of JPMorgan Chase & Co., valued at approximately $272,000, making it the bank's 11th largest position, comprising about 1.4% of its investment portfolio.
• JPMorgan Chase's quarterly earnings exceeded estimates with an EPS of $4.96, beating analysts' expectations by $0.48, despite a 10.5% year-over-year decline in revenue.
• Insider selling was reported as COO Jennifer Piepszak sold over 6,000 shares, reducing her stake by nearly 9%, raising concerns among investors about confidence in the company's performance.

Saudi Central Bank bought a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,108 shares of the financial services provider's stock, valued at approximately $272,000. JPMorgan Chase & Co. makes up approximately 1.4% of Saudi Central Bank's holdings, making the stock its 11th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wimmer Associates 1 LLC boosted its stake in JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after purchasing an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after purchasing an additional 40 shares during the last quarter. First Command Advisory Services Inc. boosted its stake in JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after purchasing an additional 40 shares during the last quarter. Black Swift Group LLC boosted its stake in JPMorgan Chase & Co. by 0.7% during the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after purchasing an additional 40 shares during the last quarter. Finally, Beacon Bridge Wealth Partners LLC boosted its stake in JPMorgan Chase & Co. by 1.8% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 40 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded down $0.71 during trading on Wednesday, hitting $298.99. The stock had a trading volume of 6,314,142 shares, compared to its average volume of 9,696,588. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $302.95. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock's 50 day moving average is $292.41 and its two-hundred day moving average is $265.59. The stock has a market cap of $822.14 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted 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 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 the consensus estimate of $43.76 billion. During the same quarter in the prior year, the business earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts predict 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 company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred 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 owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Truist Financial boosted their target price on 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 Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, TD Cowen assumed 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.