T. Rowe Price Investment Management Inc. Raises Position in JPMorgan Chase & Co. $JPM

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its stake in JPMorgan Chase & Co. by 3,406.1%, owning 285,362 shares worth $70 million after buying an additional 277,223 shares in the first quarter.
• In the most recent quarter, JPMorgan reported earnings per share of $4.96, exceeding analysts' expectations of $4.48, though its revenue decreased by 10.5% year-over-year.
• Wall Street analysts have differing views on JPMorgan's stock, with an average rating of Moderate Buy and a price target of $288.68.

T. Rowe Price Investment Management Inc. increased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3,406.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 285,362 shares of the financial services provider's stock after buying an additional 277,223 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in JPMorgan Chase & Co. were worth $70,000,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the first quarter valued at $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the first quarter valued at $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the first quarter valued at $33,000. Measured Risk Portfolios Inc. bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at $54,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $295.9920 on Friday. 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 50-day moving average of $288.92 and a 200-day moving average of $264.46. The firm has a market cap of $813.90 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share 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 net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.12 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of research analyst reports. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research note on Friday, June 27th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer directly 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.