Sterling Investment Counsel LLC Has $3.07 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Sterling Investment Counsel LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,164 shares of the financial services provider’s stock after buying an additional 354 shares during the period. JPMorgan Chase & Co. comprises about 1.2% of Sterling Investment Counsel LLC’s holdings, making the stock its 16th largest position. Sterling Investment Counsel LLC’s holdings in JPMorgan Chase & Co. were worth $3,067,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JPM. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $6,016,878,000. Swedbank AB purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $800,130,000. Capital Research Global Investors lifted its position 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 valued at $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Capital International Investors boosted its holdings in JPMorgan Chase & Co. by 5.4% during 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 grew its position in JPMorgan Chase & Co. by 3,836.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after purchasing an additional 1,480,379 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group lifted their target price on shares of 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 company a “buy” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.71.

JPMorgan Chase & Co. Trading Up 0.8 %

Shares of NYSE:JPM opened at $218.31 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The firm has a market capitalization of $626.91 billion, a P/E ratio of 12.18, a P/E/G ratio of 2.42 and a beta of 1.12. The business’s 50-day moving average is $206.81 and its 200 day moving average is $197.16. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $219.19.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the prior year, the business posted $4.37 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Insider Activity

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the 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 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company 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.