Sciencast Management LP Takes Position in JPMorgan Chase & Co. $JPM

Key Points

• Sciencast Management LP acquired 11,012 shares of JPMorgan Chase & Co., valued at approximately $2.7 million, according to a recent SEC disclosure.
• Insider activity includes Director Linda Bammann selling 9,500 shares, resulting in a 10.36% decrease in her holdings, valued at over $2.8 million.
• Several analysts have adjusted their target prices for JPMorgan Chase, with a consensus rating of "Moderate Buy" and an average price target of $291.67.

Sciencast Management LP bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 11,012 shares of the financial services provider's stock, valued at approximately $2,701,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of 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 valued at $5,778,289,000 after buying an additional 23,465,278 shares during the period. Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $3,972,807,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of JPMorgan Chase & Co. by 16.3% in 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 valued at $4,207,028,000 after buying an additional 2,465,572 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $454,042,000. Finally, National Bank of Canada FI boosted its stake in shares of JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock valued at $1,108,415,000 after buying an additional 1,388,992 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent research reports. 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 price objective for the company. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. Morgan Stanley lifted their price objective on 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. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $291.67.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

JPM traded up $2.86 during trading on Wednesday, hitting $300.71. 7,786,372 shares of the stock were exchanged, compared to its average volume of 9,649,560. The firm has a market capitalization of $826.89 billion, a P/E ratio of 15.43, a PEG ratio of 1.95 and a beta of 1.13. JPMorgan Chase & Co. has a 1-year low of $201.83 and a 1-year high of $305.15. The stock has a fifty day moving average price of $293.36 and a two-hundred day moving average price of $266.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for 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 revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.12 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

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.