New Millennium Group LLC Buys 687 Shares of JPMorgan Chase & Co. (NYSE:JPM)

New Millennium Group LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,088 shares of the financial services provider’s stock after purchasing an additional 687 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.6% of New Millennium Group LLC’s portfolio, making the stock its 17th biggest position. New Millennium Group LLC’s holdings in JPMorgan Chase & Co. were worth $2,445,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $6,016,878,000. Swedbank AB bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $800,130,000. Capital Research Global Investors boosted its holdings in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Capital International Investors grew its stake in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in JPMorgan Chase & Co. by 3,836.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after purchasing an additional 1,480,379 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup increased their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.71.

JPMorgan Chase & Co. Trading Up 0.5 %

JPMorgan Chase & Co. stock opened at $220.18 on Wednesday. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $220.42. The company 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. The business’s fifty day simple moving average is $207.29 and its two-hundred day simple moving average is $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.

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 (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the previous year, the firm earned $4.37 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction that occurred 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 sale, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

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.