Brookstone Capital Management cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 10.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,937 shares of the financial services provider’s stock after selling 17,811 shares during the quarter. Brookstone Capital Management’s holdings in JPMorgan Chase & Co. were worth $22,364,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Crew Capital Management Ltd. lifted its stake in JPMorgan Chase & Co. by 7.2% in the first quarter. Crew Capital Management Ltd. now owns 6,286 shares of the financial services provider’s stock valued at $819,000 after buying an additional 424 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of JPMorgan Chase & Co. by 46.4% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 43,526 shares of the financial services provider’s stock valued at $5,612,000 after acquiring an additional 13,792 shares during the period. CHURCHILL MANAGEMENT Corp boosted its stake in JPMorgan Chase & Co. by 3.4% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 29,711 shares of the financial services provider’s stock worth $3,872,000 after acquiring an additional 984 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in JPMorgan Chase & Co. by 1.5% in the first quarter. Janney Montgomery Scott LLC now owns 1,723,422 shares of the financial services provider’s stock worth $224,579,000 after purchasing an additional 26,285 shares during the period. Finally, Athena Investment Management increased its stake in JPMorgan Chase & Co. by 0.9% in the fourth quarter. Athena Investment Management now owns 28,247 shares of the financial services provider’s stock valued at $3,788,000 after purchasing an additional 244 shares in the last quarter. Institutional investors own 68.94% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Atlantic Securities raised their target price on JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $158.00 to $168.00 in a research note on Monday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $158.00 target price on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Friday, July 7th. Finally, Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $173.00 to $179.00 and gave the stock an “overweight” rating in a report on Tuesday, September 12th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.21.
In related news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.16, for a total value of $677,359.60. Following the sale, the general counsel now owns 57,735 shares of the company’s stock, valued at approximately $9,073,632.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Up 0.2 %
Shares of NYSE:JPM opened at $149.12 on Tuesday. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $159.38. The company has a market capitalization of $433.35 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The business has a fifty day moving average price of $150.88 and a two-hundred day moving average price of $141.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.75. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The company had revenue of $42.40 billion during the quarter, compared to analyst estimates of $38.66 billion. During the same quarter in the prior year, the business earned $2.76 earnings per share. The firm’s revenue for the quarter was up 34.1% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 15.58 earnings per share for the current year.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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