Elite Wealth Management Inc. Has $2.01 Million Holdings in JPMorgan Chase & Co. (JPM)

Elite Wealth Management Inc. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 7.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,304 shares of the financial services provider’s stock after buying an additional 1,413 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.7% of Elite Wealth Management Inc.’s holdings, making the stock its 16th biggest position. Elite Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,011,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JPM. Eagle Global Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 0.6% during the second quarter. Eagle Global Advisors LLC now owns 175,550 shares of the financial services provider’s stock valued at $18,292,000 after purchasing an additional 1,114 shares in the last quarter. Retirement Income Solutions Inc grew its position in shares of JPMorgan Chase & Co. by 18.0% during the second quarter. Retirement Income Solutions Inc now owns 4,650 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 708 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Nuveen Asset Management LLC now owns 1,124,172 shares of the financial services provider’s stock valued at $123,625,000 after purchasing an additional 29,540 shares in the last quarter. Syntal Capital Partners LLC grew its position in shares of JPMorgan Chase & Co. by 11.3% during the first quarter. Syntal Capital Partners LLC now owns 9,963 shares of the financial services provider’s stock valued at $1,095,000 after purchasing an additional 1,013 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. grew its position in shares of JPMorgan Chase & Co. by 5.5% during the second quarter. NN Investment Partners Holdings N.V. now owns 140,044 shares of the financial services provider’s stock valued at $14,593,000 after purchasing an additional 7,269 shares in the last quarter. Institutional investors and hedge funds own 70.26% of the company’s stock.

A number of brokerages have recently weighed in on JPM. Credit Suisse Group cut their price objective on JPMorgan Chase & Co. from $130.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday. Wolfe Research began coverage on JPMorgan Chase & Co. in a research report on Tuesday, September 25th. They set an “outperform” rating for the company. Zacks Investment Research lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, September 17th. Bank of America raised their price objective on JPMorgan Chase & Co. from $126.00 to $132.00 and gave the company a “buy” rating in a research report on Monday, September 17th. Finally, BMO Capital Markets raised their price objective on JPMorgan Chase & Co. to $124.00 and gave the company a “market perform” rating in a research report on Monday, October 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $123.64.

In related news, Director Mellody L. Hobson purchased 1,150 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The stock was bought at an average price of $108.94 per share, for a total transaction of $125,281.00. Following the completion of the transaction, the director now owns 2,632 shares in the company, valued at approximately $286,730.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.73% of the company’s stock.

JPM opened at $103.29 on Friday. The stock has a market capitalization of $368.01 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.74 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $102.20 and a 12 month high of $119.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.17.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.10. The company had revenue of $27.26 billion during the quarter, compared to analyst estimates of $27.20 billion. JPMorgan Chase & Co. had a return on equity of 13.90% and a net margin of 23.39%. During the same quarter last year, the business posted $1.76 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 9.26 earnings per share for the current year.

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JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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