QP Wealth Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 19.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,287 shares of the financial services provider’s stock after selling 1,470 shares during the period. QP Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $708,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in JPM. Norges Bank acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $4,092,843,000. Vanguard Group Inc. grew its holdings in JPMorgan Chase & Co. by 2.6% during the first quarter. Vanguard Group Inc. now owns 266,854,574 shares of the financial services provider’s stock valued at $36,377,615,000 after purchasing an additional 6,792,220 shares during the last quarter. GQG Partners LLC grew its holdings in JPMorgan Chase & Co. by 403.3% during the fourth quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock valued at $806,728,000 after purchasing an additional 4,083,231 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in JPMorgan Chase & Co. by 7,427.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock valued at $363,169,000 after purchasing an additional 2,628,701 shares during the last quarter. Finally, State Street Corp grew its holdings in JPMorgan Chase & Co. by 1.6% during the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock valued at $22,441,376,000 after purchasing an additional 2,277,065 shares during the last quarter. Institutional investors and hedge funds own 68.57% of the company’s stock.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. stock opened at $117.08 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a fifty day moving average price of $115.85 and a two-hundred day moving average price of $122.63. JPMorgan Chase & Co. has a 52-week low of $106.06 and a 52-week high of $172.96. The firm has a market capitalization of $343.35 billion, a P/E ratio of 9.40, a P/E/G ratio of 2.07 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.76. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The firm had revenue of $30.72 billion during the quarter, compared to analyst estimates of $31.82 billion. During the same period in the prior year, the company posted $3.78 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts anticipate that JPMorgan Chase & Co. will post 11.32 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages have commented on JPM. Oppenheimer lowered their price target on JPMorgan Chase & Co. from $154.00 to $153.00 and set an “outperform” rating on the stock in a report on Friday, July 15th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $148.00 price objective (up from $142.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 24th. Jefferies Financial Group set a $117.00 price objective on JPMorgan Chase & Co. in a research report on Monday, September 12th. Citigroup raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $145.00 to $135.00 in a research report on Tuesday, July 12th. Finally, Barclays set a $200.00 price objective on JPMorgan Chase & Co. in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $145.95.
JPMorgan Chase & Co. 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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