Lowe Brockenbrough & Co. Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,087 shares of the financial services provider’s stock after selling 1,996 shares during the quarter. JPMorgan Chase & Co. accounts for 2.7% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 3rd largest holding. Lowe Brockenbrough & Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $18,348,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Quad Cities Investment Group LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $124,000. Ballew Advisors Inc raised its position in JPMorgan Chase & Co. by 104.2% in the 2nd quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock valued at $126,000 after buying an additional 619 shares during the last quarter. Kwmg LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $158,000. Stelac Advisory Services LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $162,000. Finally, TradeLink Capital LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $179,000. 70.26% of the stock is currently owned by institutional investors.
Shares of JPMorgan Chase & Co. stock opened at $103.29 on Friday. JPMorgan Chase & Co. has a 1 year low of $102.20 and a 1 year high of $119.33. The firm has a market cap of $361.01 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.70 and a beta of 1.10. 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 announced its earnings results on Friday, October 12th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.10. The firm 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 period last year, the firm posted $1.76 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 9.26 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on JPM shares. Bank of America increased their price target 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. BMO Capital Markets increased their price target on JPMorgan Chase & Co. to $124.00 and gave the company a “market perform” rating in a research report on Monday, October 15th. Zacks Investment Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research report on Friday, September 14th. Vining Sparks reissued a “buy” rating and issued a $125.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, October 12th. Finally, Goldman Sachs Group set a $130.00 target price on JPMorgan Chase & Co. and gave the company a “neutral” rating in a research report on Friday, October 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. JPMorgan Chase & Co. currently has an average rating of “Buy” and an average price target of $123.64.
In other news, Director Mellody L. Hobson purchased 1,150 shares of the business’s stock in a transaction dated 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 purchase, the director now owns 2,632 shares of the company’s stock, valued at $286,730.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by corporate insiders.
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About JPMorgan Chase & Co.
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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