Longbow Finance SA Grows Stock Holdings in JPMorgan Chase & Co. $JPM

Longbow Finance SA boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 31.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 46,628 shares of the financial services provider’s stock after purchasing an additional 11,098 shares during the quarter. JPMorgan Chase & Co. comprises 2.0% of Longbow Finance SA’s portfolio, making the stock its 16th biggest holding. Longbow Finance SA’s holdings in JPMorgan Chase & Co. were worth $15,263,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in shares of JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after acquiring an additional 939,421 shares during the period. Bank of America Corp DE raised its holdings in JPMorgan Chase & Co. by 15.8% during the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock worth $19,314,681,000 after purchasing an additional 8,941,351 shares during the last quarter. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $11,396,496,000. Bank of New York Mellon Corp boosted its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after purchasing an additional 1,194,583 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after purchasing an additional 110,586 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $357.54 on Friday. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $366.50. The stock has a market capitalization of $950.41 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.47 and a beta of 0.99. The firm’s 50-day moving average is $347.44 and its two-hundred day moving average is $318.83. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company’s revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.96 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 24.28 earnings per share for the current year.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total value of $903,525.00. Following the transaction, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. This represents a 3.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Robert W. Baird lifted their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $359.96.

View Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Company Profile

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

See Also

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMFree Report).

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

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