Sax Wealth Advisors LLC Boosts Stake in JPMorgan Chase & Co. $JPM

Key Points

• Sax Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 18.7% during Q1, owning 19,295 shares valued at approximately $4.73 million.
• Several hedge funds, including GAMMA Investing LLC, made significant investments in JPMorgan, with GAMMA increasing its holdings by 25,861.9%.
• JPMorgan reported Q2 earnings of $4.96 per share, surpassing analysts' expectations of $4.48, despite a 10.5% decline in revenue year-over-year.

Sax Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 18.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,295 shares of the financial services provider's stock after purchasing an additional 3,046 shares during the quarter. Sax Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $4,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of JPM. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 23,465,278 shares during the period. Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $3,972,807,000. Northern Trust Corp lifted its position in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after acquiring an additional 2,551,899 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of JPMorgan Chase & Co. by 16.3% in 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 worth $4,207,028,000 after buying an additional 2,465,572 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $295.9920 on Friday. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. The stock has a fifty day moving average price of $288.92 and a 200-day moving average price of $264.46. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market cap of $813.90 billion, a PE ratio of 15.19, a P/E/G ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $6.12 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Truist Financial upped their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

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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