Weitz Investment Management Inc. Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Weitz Investment Management Inc. grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,500 shares of the financial services provider’s stock after purchasing an additional 3,500 shares during the period. Weitz Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $3,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Adirondack Retirement Specialists Inc. raised its stake in JPMorgan Chase & Co. by 510.8% in the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 189 shares during the last quarter. Nordwand Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Boulder Wealth Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Sageworth Trust Co grew its position in JPMorgan Chase & Co. by 266.7% during the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 296 shares during the period. Finally, Aspire Private Capital LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $54,391,133,000. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on JPM. Credit Suisse Group increased their price target on JPMorgan Chase & Co. from $160.00 to $170.00 in a research report on Monday, July 17th. Evercore ISI cut their price target on JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. Piper Sandler raised their target price on JPMorgan Chase & Co. from $158.00 to $168.00 in a research report on Monday, July 17th. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Finally, Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.89.

JPMorgan Chase & Co. Trading Up 0.1 %

JPM opened at $143.85 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50 day simple moving average is $150.68 and its two-hundred day simple moving average is $141.37. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $159.38. The firm has a market capitalization of $418.04 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. During the same period last year, the company posted $2.76 EPS. The business’s revenue was up 34.1% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 15.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.16, for a total value of $677,359.60. Following the transaction, the general counsel now directly owns 57,735 shares of the company’s stock, valued at approximately $9,073,632.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Vice Chairman Peter Scher sold 2,482 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $141.39, for a total transaction of $350,929.98. Following the sale, the insider now owns 41,333 shares of the company’s stock, valued at approximately $5,844,072.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.16, for a total transaction of $677,359.60. Following the sale, the general counsel now directly owns 57,735 shares in the company, valued at approximately $9,073,632.60. The disclosure for this sale can be found here. Insiders have sold 17,903 shares of company stock valued at $2,616,735 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in providing 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.