ING Groep NV lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 22.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 549,546 shares of the financial services provider’s stock after selling 154,899 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.1% of ING Groep NV’s portfolio, making the stock its 19th largest position. ING Groep NV’s holdings in JPMorgan Chase & Co. were worth $57,263,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Quad Cities Investment Group LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $124,000. Ballew Advisors Inc boosted its stake in JPMorgan Chase & Co. by 104.2% in the second quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 619 shares in the last quarter. Kwmg LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $158,000. Stelac Advisory Services LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $162,000. Finally, TradeLink Capital LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $179,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.
In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 1,150 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, October 19th. The stock was acquired at an average cost of $108.94 per share, with a total value of $125,281.00. Following the completion of the acquisition, the director now owns 2,632 shares of the company’s stock, valued at $286,730.08. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is currently owned by corporate insiders.
Shares of NYSE:JPM opened at $103.29 on Friday. JPMorgan Chase & Co. has a one year low of $102.20 and a one year high of $119.33. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $368.01 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.10. JPMorgan Chase & Co. had a net margin of 23.39% and a return on equity of 13.90%. The business had revenue of $27.26 billion during the quarter, compared to analysts’ expectations of $27.20 billion. During the same period in the prior year, the company earned $1.76 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 9.26 EPS for the current year.
Several research firms have issued reports on JPM. Credit Suisse Group decreased their price objective on shares of JPMorgan Chase & Co. from $130.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday. Wolfe Research began coverage on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 25th. They issued an “outperform” rating for the company. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday, September 17th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $126.00 to $132.00 and gave the company a “buy” rating in a research note on Monday, September 17th. Finally, BMO Capital Markets upped their price objective on shares of JPMorgan Chase & Co. to $124.00 and gave the company a “market perform” rating in a research note on Monday, October 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $123.64.
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JPMorgan Chase & Co. 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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