Holderness Investments Co. Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Holderness Investments Co. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,614 shares of the financial services provider’s stock after buying an additional 1,556 shares during the quarter. JPMorgan Chase & Co. makes up 0.9% of Holderness Investments Co.’s holdings, making the stock its 29th biggest holding. Holderness Investments Co.’s holdings in JPMorgan Chase & Co. were worth $2,081,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Thoroughbred Financial Services LLC boosted its position in JPMorgan Chase & Co. by 11,601.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 4,973,970 shares of the financial services provider’s stock worth $497,397,000 after purchasing an additional 4,931,461 shares during the period. Bessemer Group Inc. boosted its position in JPMorgan Chase & Co. by 179.6% during the 2nd quarter. Bessemer Group Inc. now owns 3,508,417 shares of the financial services provider’s stock worth $392,240,000 after purchasing an additional 2,253,764 shares during the period. Royal London Asset Management Ltd. purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth $182,400,000. ADAMCAPITAL Gestao de Recursos Ltda. boosted its position in JPMorgan Chase & Co. by 32.0% during the 4th quarter. ADAMCAPITAL Gestao de Recursos Ltda. now owns 2,598,267 shares of the financial services provider’s stock worth $253,643,000 after purchasing an additional 629,580 shares during the period. Finally, Capital Wealth Planning LLC boosted its position in JPMorgan Chase & Co. by 1,070.4% during the 2nd quarter. Capital Wealth Planning LLC now owns 665,018 shares of the financial services provider’s stock worth $74,349,000 after purchasing an additional 608,198 shares during the period. 72.31% of the stock is owned by institutional investors.

In other JPMorgan Chase & Co. news, EVP Peter Scher sold 10,816 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $115.00, for a total value of $1,243,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mellody L. Hobson bought 18,200 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $109.91 per share, with a total value of $2,000,362.00. Following the transaction, the director now owns 7,804 shares in the company, valued at approximately $857,737.64. The disclosure for this purchase can be found here. 0.76% of the stock is owned by corporate insiders.

JPM opened at $107.98 on Friday. The firm has a market cap of $343.12 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. JPMorgan Chase & Co. has a fifty-two week low of $91.11 and a fifty-two week high of $119.24. The company’s 50-day moving average price is $112.23 and its 200 day moving average price is $108.98. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.32. The firm had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. JPMorgan Chase & Co.’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 9.91 earnings per share for the current year.

A number of analysts recently weighed in on the stock. Morgan Stanley set a $122.00 price target on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 9th. Goldman Sachs Group restated a “neutral” rating and issued a $117.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. ValuEngine lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, DZ Bank restated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $121.94.

About JPMorgan Chase & Co.

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 deposit and investment products 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, payment processing, auto loan, and leasing services.

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

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