Summit Financial LLC Increases Holdings in JPMorgan Chase & Co. $JPM

Summit Financial LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 31.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,545 shares of the financial services provider’s stock after buying an additional 29,269 shares during the quarter. JPMorgan Chase & Co. comprises 0.8% of Summit Financial LLC’s holdings, making the stock its 20th largest position. Summit Financial LLC’s holdings in JPMorgan Chase & Co. were worth $30,306,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider’s stock worth $46,068,000 after acquiring an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE increased its stake in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider’s stock worth $3,266,000 after acquiring an additional 1,893 shares during the last quarter. KKM Financial LLC increased its stake in JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider’s stock worth $4,040,000 after acquiring an additional 640 shares during the last quarter. Finally, Burling Wealth Partners LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth $14,517,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares of the company’s stock, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on JPM shares. Hsbc Global Res cut JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Truist Financial raised their target price 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. Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $288.68.

JPMorgan Chase & Co. Trading Down 0.4%

Shares of NYSE JPM opened at $291.0580 on Friday. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. The stock has a market capitalization of $800.34 billion, a PE ratio of 14.93, a PEG ratio of 1.94 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a fifty day simple moving average of $288.29 and a 200-day simple moving average of $264.27.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same period in the previous year, the firm posted $6.12 EPS. JPMorgan Chase & Co.’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Company Profile

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.