Elevate Wealth Advisory Inc. Takes Position in JPMorgan Chase & Co. $JPM

Elevate Wealth Advisory Inc. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the first quarter, according to its most recent filing with the SEC. The fund purchased 845 shares of the financial services provider’s stock, valued at approximately $207,000.

Other institutional investors have also made changes to their positions in the company. Florida Financial Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock valued at $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $471,000. Crown Wealth Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after acquiring an additional 222 shares during the last quarter. Morse Asset Management Inc increased its holdings in shares of JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after acquiring an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 112 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.4%

NYSE:JPM opened at $291.0580 on Friday. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29. The stock has a market cap of $800.34 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 1.94 and a beta of 1.11. The business has a fifty day moving average of $288.29 and a 200-day moving average of $264.27. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.12 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JPM. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Truist Financial upped their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Wednesday, July 9th. TD Cowen started coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective for the company. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Finally, Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.