Brookstone Capital Management Purchases 69,656 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Brookstone Capital Management grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 84.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 151,991 shares of the financial services provider’s stock after purchasing an additional 69,656 shares during the quarter. Brookstone Capital Management’s holdings in JPMorgan Chase & Co. were worth $17,382,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in JPMorgan Chase & Co. during the fourth quarter worth $4,092,843,000. Vanguard Group Inc. boosted its stake in JPMorgan Chase & Co. by 2.6% during the first quarter. Vanguard Group Inc. now owns 266,854,574 shares of the financial services provider’s stock worth $36,377,615,000 after acquiring an additional 6,792,220 shares in the last quarter. GQG Partners LLC boosted its stake in JPMorgan Chase & Co. by 403.3% during the fourth quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock worth $806,728,000 after acquiring an additional 4,083,231 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in JPMorgan Chase & Co. by 7,427.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after acquiring an additional 2,628,701 shares in the last quarter. Finally, State Street Corp boosted its stake in JPMorgan Chase & Co. by 1.6% during the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock worth $22,441,376,000 after acquiring an additional 2,277,065 shares in the last quarter. 68.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JPM. Royal Bank of Canada set a $130.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 6th. Wells Fargo & Company cut their target price on shares of JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 14th. Evercore ISI dropped their price objective on shares of JPMorgan Chase & Co. from $135.00 to $125.00 in a research note on Friday, July 15th. Barclays set a $200.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 18th. Finally, Citigroup raised shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $145.00 to $135.00 in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $145.95.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $118.16 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $106.06 and a 52-week high of $172.96. The company has a 50-day simple moving average of $115.85 and a 200 day simple moving average of $122.52. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $346.51 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.76. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The business had revenue of $30.72 billion during the quarter, compared to the consensus estimate of $31.82 billion. During the same quarter last year, the company posted $3.78 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 11.32 EPS for the current year.

About JPMorgan Chase & Co.

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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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.

See Also

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

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