151,704 Shares in JPMorgan Chase & Co. (NYSE:JPM) Acquired by Resources Management Corp CT ADV

Resources Management Corp CT ADV bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, HoldingsChannel.com reports. The fund bought 151,704 shares of the financial services provider’s stock, valued at approximately $17,854,000. JPMorgan Chase & Co. accounts for 3.3% of Resources Management Corp CT ADV’s portfolio, making the stock its 3rd largest position.

A number of other large investors also recently bought and sold shares of the business. Webster Bank N. A. raised its stake in JPMorgan Chase & Co. by 4.2% in the second quarter. Webster Bank N. A. now owns 140,284 shares of the financial services provider’s stock valued at $15,684,000 after purchasing an additional 5,672 shares in the last quarter. Arbor Wealth Management LLC raised its stake in JPMorgan Chase & Co. by 3.1% during the second quarter. Arbor Wealth Management LLC now owns 5,588 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 168 shares in the last quarter. Forte Capital LLC ADV raised its stake in JPMorgan Chase & Co. by 9.0% during the second quarter. Forte Capital LLC ADV now owns 20,661 shares of the financial services provider’s stock worth $2,310,000 after acquiring an additional 1,713 shares in the last quarter. Legacy Capital Partners Inc. raised its stake in JPMorgan Chase & Co. by 6.1% during the second quarter. Legacy Capital Partners Inc. now owns 3,505 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 200 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of JPMorgan Chase & Co. by 126.7% in the second quarter. Sound Income Strategies LLC now owns 510 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 285 shares during the last quarter. 71.89% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Gordon Smith sold 83,289 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $119.98, for a total transaction of $9,993,014.22. Following the completion of the transaction, the chief executive officer now directly owns 393,197 shares in the company, valued at $47,175,776.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mellody L. Hobson acquired 16,000 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were bought at an average price of $124.65 per share, with a total value of $1,994,400.00. Following the completion of the transaction, the director now directly owns 8,186 shares of the company’s stock, valued at $1,020,384.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 152,944 shares of company stock valued at $19,088,970. Corporate insiders own 0.76% of the company’s stock.

A number of equities research analysts have recently weighed in on JPM shares. Buckingham Research downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research note on Monday, September 16th. They noted that the move was a valuation call. Morgan Stanley reiterated a “buy” rating and set a $141.00 price objective (up from $138.00) on shares of JPMorgan Chase & Co. in a research report on Monday, November 18th. Credit Suisse Group upped their price objective on shares of JPMorgan Chase & Co. from $135.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Wells Fargo & Co set a $125.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada raised their target price on shares of JPMorgan Chase & Co. to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $123.48.

Shares of JPMorgan Chase & Co. stock traded up $2.56 on Wednesday, hitting $132.34. The stock had a trading volume of 9,979,513 shares, compared to its average volume of 11,939,598. The stock has a 50 day moving average of $127.65 and a 200 day moving average of $116.04. The firm has a market capitalization of $413.26 billion, a P/E ratio of 14.70, a PEG ratio of 1.85 and a beta of 1.23. JPMorgan Chase & Co. has a twelve month low of $91.11 and a twelve month high of $132.74. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.93 and a current ratio of 0.93.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $2.68 EPS for the quarter, topping the consensus estimate of $2.45 by $0.23. JPMorgan Chase & Co. had a net margin of 24.70% and a return on equity of 14.63%. The business had revenue of $29.34 billion for the quarter, compared to the consensus estimate of $28.36 billion. During the same period last year, the company earned $2.34 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Equities analysts expect that JPMorgan Chase & Co. will post 10.17 earnings per share for the current year.

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 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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