Pegasus Asset Management Inc. Acquires 1,427 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Pegasus Asset Management Inc. increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,394 shares of the financial services provider’s stock after buying an additional 1,427 shares during the period. JPMorgan Chase & Co. accounts for 2.6% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 12th biggest position. Pegasus Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Retirement Group LLC lifted its stake in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $34,000. Bare Financial Services Inc purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $35,000. Partnership Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $36,000. Finally, Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $37,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $220.18 on Wednesday. The firm has a 50 day moving average of $207.29 and a 200 day moving average of $197.47. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $632.28 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $220.42.

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

Insider Buying and Selling

In related news, insider Ashley Bacon sold 5,086 shares of the firm’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 completion of the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Piper Sandler lifted their target price 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. Finally, Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

JPMorgan Chase & Co. Profile

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, 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, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.