Promus Capital LLC Purchases New Position in JPMorgan Chase & Co. (NYSE:JPM)

Promus Capital LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 766 shares of the financial services provider’s stock, valued at approximately $184,000.

A number of other institutional investors also recently modified their holdings of the business. Fisher Asset Management LLC lifted its stake in JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in JPMorgan Chase & Co. by 34,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after purchasing an additional 3,489,314 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in JPMorgan Chase & Co. by 137.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after purchasing an additional 2,535,590 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in JPMorgan Chase & Co. by 93.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after purchasing an additional 1,301,764 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $232.94 on Friday. The firm has a market cap of $651.31 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $258.29 and its two-hundred day simple moving average is $238.83.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock valued at $12,448,445 in the last quarter. Insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.