Institute for Wealth Management LLC. Purchases 783 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Institute for Wealth Management LLC. increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,512 shares of the financial services provider’s stock after buying an additional 783 shares during the period. Institute for Wealth Management LLC.’s holdings in JPMorgan Chase & Co. were worth $3,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Group LLC raised its position in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $34,000. Bare Financial Services Inc purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $35,000. Partnership Wealth Management LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $36,000. Finally, Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $218.31 on Monday. The company has a market cap of $626.91 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 2.42 and a beta of 1.12. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $219.19. The stock’s 50 day simple moving average is $206.81 and its two-hundred day simple moving average is $197.16. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the previous year, the business posted $4.37 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. UBS Group raised their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Jefferies Financial Group lifted their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Robert W. Baird increased their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Finally, BMO Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Insider Buying and Selling

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

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.