B. Riley Wealth Management Inc. Invests $1.45 Million in JPMorgan Chase & Co. (JPM) Stock

B. Riley Wealth Management Inc. purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, Holdings Channel reports. The fund purchased 12,848 shares of the financial services provider’s stock, valued at approximately $1,450,000.

Other institutional investors have also recently modified their holdings of the company. First Hawaiian Bank raised its holdings in JPMorgan Chase & Co. by 384.3% during the third quarter. First Hawaiian Bank now owns 95,808 shares of the financial services provider’s stock worth $10,811,000 after purchasing an additional 76,026 shares in the last quarter. Capital Planning Advisors LLC raised its holdings in JPMorgan Chase & Co. by 18.6% during the second quarter. Capital Planning Advisors LLC now owns 14,951 shares of the financial services provider’s stock worth $1,558,000 after purchasing an additional 2,349 shares in the last quarter. Watch Point Trust Co raised its holdings in JPMorgan Chase & Co. by 5.2% during the third quarter. Watch Point Trust Co now owns 35,201 shares of the financial services provider’s stock worth $3,972,000 after purchasing an additional 1,738 shares in the last quarter. BigSur Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 22.2% during the third quarter. BigSur Wealth Management LLC now owns 25,313 shares of the financial services provider’s stock worth $2,856,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its holdings in JPMorgan Chase & Co. by 1.4% during the third quarter. Congress Asset Management Co. MA now owns 115,402 shares of the financial services provider’s stock worth $13,022,000 after purchasing an additional 1,638 shares in the last quarter. Institutional investors own 69.08% of the company’s stock.

Shares of JPM opened at $105.34 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $358.26 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.60 and a beta of 1.12. JPMorgan Chase & Co. has a 1 year low of $91.11 and a 1 year high of $119.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.22). The firm had revenue of $26.10 billion during the quarter, compared to analyst estimates of $26.69 billion. JPMorgan Chase & Co. had a net margin of 24.71% and a return on equity of 14.07%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 9.73 EPS for the current year.

JPM has been the topic of a number of recent research reports. Zacks Investment Research cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Wells Fargo & Co set a $130.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, November 15th. ValuEngine cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Thursday, December 6th. Credit Suisse Group cut their target price on shares of JPMorgan Chase & Co. from $130.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, December 7th. Finally, Keefe, Bruyette & Woods cut shares of JPMorgan Chase & Co. from an “overweight” rating to a “market perform” rating in a report on Thursday, December 13th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $122.87.

In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 11,659 shares of the business’s stock in a transaction on Tuesday, January 29th. The shares were sold at an average price of $105.00, for a total value of $1,224,195.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ashley Bacon sold 5,831 shares of the business’s stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $102.78, for a total transaction of $599,310.18. Following the completion of the transaction, the insider now directly owns 98,838 shares in the company, valued at $10,158,569.64. The disclosure for this sale can be found here. Insiders sold a total of 39,191 shares of company stock worth $4,102,110 over the last three months. 0.73% of the stock is currently owned by corporate insiders.

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JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

Read More: Leveraged Buyout (LBO) Explained

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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