Versant Capital Management Inc Raises Stake in JPMorgan Chase & Co. $JPM

Versant Capital Management Inc raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 11.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,178 shares of the financial services provider’s stock after acquiring an additional 868 shares during the quarter. Versant Capital Management Inc’s holdings in JPMorgan Chase & Co. were worth $2,371,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. in the first quarter worth approximately $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the first quarter worth approximately $33,000. Capital A Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $64,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $72,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $306.88 on Friday. The firm’s fifty day simple moving average is $293.94 and its 200-day simple moving average is $267.38. The stock has a market capitalization of $843.84 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 2.03 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $307.55. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a research report on Wednesday, July 9th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. One research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $291.67.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. 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.