Magnolia Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,575 shares of the financial services provider’s stock, valued at approximately $4,832,000. JPMorgan Chase & Co. comprises 0.3% of Magnolia Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position.
Several other large investors have also modified their holdings of the business. Strategic Wealth Partners Ltd. grew its holdings in JPMorgan Chase & Co. by 12.2% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 35,690 shares of the financial services provider’s stock valued at $4,865,000 after buying an additional 3,872 shares during the last quarter. Wharton Business Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.7% during the 1st quarter. Wharton Business Group LLC now owns 173,063 shares of the financial services provider’s stock worth $23,592,000 after purchasing an additional 1,167 shares during the last quarter. Sawgrass Asset Management LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $3,048,000. Golden State Equity Partners boosted its position in JPMorgan Chase & Co. by 29.1% during the first quarter. Golden State Equity Partners now owns 24,924 shares of the financial services provider’s stock worth $3,398,000 after acquiring an additional 5,613 shares during the last quarter. Finally, Baader Bank INC boosted its position in JPMorgan Chase & Co. by 12.9% during the first quarter. Baader Bank INC now owns 34,125 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 3,900 shares during the last quarter. 68.57% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
JPM has been the topic of several analyst reports. Wells Fargo & Company decreased their price objective on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a report on Thursday, July 14th. Royal Bank of Canada set a $130.00 price target on JPMorgan Chase & Co. in a research note on Tuesday, September 6th. Morgan Stanley decreased their target price on shares of JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 12th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $148.00 target price (up from $142.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 24th. Finally, Credit Suisse Group set a $145.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $145.95.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. stock opened at $116.39 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $106.06 and a 52 week high of $172.96. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.14. The stock has a market cap of $341.32 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The stock has a 50 day moving average of $115.65 and a 200-day moving average of $123.09.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, meeting analysts’ consensus estimates of $2.76. The firm had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.78 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 11.31 EPS for the current fiscal 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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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