Cinctive Capital Management LP Takes Position in JPMorgan Chase & Co. $JPM

Cinctive Capital Management LP acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 34,566 shares of the financial services provider’s stock, valued at approximately $8,479,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Florida Financial Advisors LLC grew its holdings in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after acquiring an additional 3,792 shares during the period. Fourth Dimension Wealth LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $471,000. Crown Wealth Group LLC grew its holdings in JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 222 shares during the period. Mosaic Financial Group LLC grew its holdings in JPMorgan Chase & Co. by 0.8% during the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after acquiring an additional 78 shares during the period. Finally, Morse Asset Management Inc grew its holdings in JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 420 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JPM. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an “outperform” rating in a report on Monday, June 30th. Finally, Bank of America upped their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.67.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of NYSE:JPM opened at $298.99 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $302.95. The stock’s fifty day simple moving average is $292.71 and its 200-day simple moving average is $265.82. The company has a market capitalization of $822.14 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.00 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share 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 for the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the business posted $6.12 earnings per share. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

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.