SCS Capital Management LLC Makes New Investment in JPMorgan Chase & Co. $JPM

Key Points

• SCS Capital Management LLC has invested $14.58 million in JPMorgan Chase & Co. by acquiring 59,437 shares, indicating a growing interest from institutional investors.
• Various hedge funds have also increased their stakes in JPMorgan Chase, with notable boosts from UBS AM, Woodline Partners LP, and Zurich Insurance Group, reflecting strong institutional confidence in the bank.
• Recent earnings reports show JPMorgan Chase exceeded EPS estimates at $4.96 per share, but revenue decreased 10.5% from the previous year, prompting analysts to adjust target prices and ratings accordingly.

SCS Capital Management LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 59,437 shares of the financial services provider's stock, valued at approximately $14,580,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC lifted its position in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $471,000. Crown Wealth Group LLC lifted its position in shares of JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after acquiring an additional 222 shares during the period. Mosaic Financial Group LLC lifted its position in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after acquiring an additional 78 shares during the period. Finally, Morse Asset Management Inc lifted its position in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after acquiring an additional 420 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock traded up $1.32 during trading on Friday, hitting $306.88. 6,786,081 shares of the company were exchanged, compared to its average volume of 9,606,056. 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. has a fifty-two week low of $202.16 and a fifty-two week high of $307.55. The stock has a market capitalization of $843.84 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 2.00 and a beta of 1.13. The firm has a 50 day moving average price of $293.72 and a 200 day moving average price of $266.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the firm posted $6.12 EPS. The company's quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In related 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 completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Morgan Stanley lifted 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 report on Wednesday, July 16th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a research report on Friday, June 27th. Finally, Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.67.

JPMorgan Chase & Co. Company 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.