Miller Investment Management LP boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 16,050 shares of the financial services provider’s stock after buying an additional 2,000 shares during the period. JPMorgan Chase & Co. makes up 0.4% of Miller Investment Management LP’s portfolio, making the stock its 28th largest holding. Miller Investment Management LP’s holdings in JPMorgan Chase & Co. were worth $1,794,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Personal Wealth Partners acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $28,000. Smart Portfolios LLC grew its position in shares of JPMorgan Chase & Co. by 29.6% during the 4th quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 114 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of JPMorgan Chase & Co. by 126.7% during the 2nd quarter. Sound Income Strategies LLC now owns 510 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 285 shares in the last quarter. Asset Planning Services Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $61,000. Finally, Semmax Financial Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 72.31% of the company’s stock.
In other news, Director Mellody L. Hobson purchased 18,200 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $109.91 per share, with a total value of $2,000,362.00. Following the acquisition, the director now owns 7,804 shares in the company, valued at approximately $857,737.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lori A. Beer sold 13,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the sale, the insider now directly owns 10,130 shares of the company’s stock, valued at approximately $1,157,656.40. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The company had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.52 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities research analysts expect that JPMorgan Chase & Co. will post 9.94 EPS for the current fiscal year.
A number of research analysts have issued reports on the stock. DZ Bank restated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Morgan Stanley set a $122.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 9th. Goldman Sachs Group restated a “neutral” rating and set a $117.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 22nd. Wells Fargo & Co set a $125.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $121.94.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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