JPMorgan Chase & Co. (NYSE:JPM) is Parsons Capital Management Inc. RI’s sixth highest position

VaselineAugust 20, 2024

0 4 minutes read

Parsons Capital Management Inc. RI reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,963 shares of the financial services provider’s stock after selling 1,602 shares during the period. JPMorgan Chase & Co. comprises approximately 2.0% of Parsons Capital Management Inc.’s investment portfolio. RI, making the stock the 6th largest. The holdings of Parsons Capital Management Inc. RI in JPMorgan Chase & Co. were worth $28,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $55,033,000. Tennessee Valley Asset Management Partners raised its stake in shares of JPMorgan Chase & Co. by 2.3% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 6,550 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 150 shares during the period. Keene & Associates Inc. increased its holdings in shares of JPMorgan Chase & Co. by 8.3% during the 4th quarter. Keene & Associates Inc. now owns 3,194 shares of the financial services provider’s stock worth $543,000 after purchasing an additional 245 shares in the last quarter. River Street Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. River Street Advisors LLC now owns 17,810 shares of the financial services provider’s stock worth $3,029,000 after purchasing an additional 918 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in JPMorgan Chase & Co. by 4.6% in the fourth quarter. Vontobel Holding Ltd. now owns 519,303 shares of the financial services provider’s stock valued at $88,333,000 after acquiring an additional 23,064 shares during the last quarter. 71.55% of the shares are currently held by hedge funds and other institutional investors.

The price performance of JPMorgan Chase & Co

Shares of NYSE JPM stock opened at $214.04 on Tuesday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $217.56. The firm has a market cap of $614.65 billion, a PE ratio of 12.01, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91, and a quick ratio of 0.92. The company’s fifty day moving average price is $204.99 and its two hundred day moving average price is $196.00.

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JPMorgan Chase & Co. (NYSE:JPM – Get Your Free Report ) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the previous year, the business posted EPS of $4.37. On average, research analysts expect that JPMorgan Chase & Co. to post 16.78 EPS for the current year.

Analysts on Wall Street are forecasting an increase

A number of analysts have recently issued reports on the stock. Piper Sandler raised its price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets raised their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Citigroup raised its price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. UBS Group raised its price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and an average price target of $205.71, according to MarketBeat.

Check out our latest analysis of JPMorgan Chase & Co.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 0.79% of shares are owned by company insiders.

JPMorgan Chase & Co. Profile

(Free report)

JPMorgan Chase & Co. operates as a global financial services company. 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, investment and lending products, cash management and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leasing and travel services for consumers and small businesses through bank branches, ATMs and digital and phone banking.