Riggs Asset Managment Co. Inc. Buys 726 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Riggs Asset Managment Co. Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 124.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,311 shares of the financial services provider’s stock after acquiring an additional 726 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $6,016,878,000. Swedbank AB acquired a new position in JPMorgan Chase & Co. during the first quarter worth $800,130,000. Capital Research Global Investors lifted its stake in shares of JPMorgan Chase & Co. by 23.3% in 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 buying an additional 3,252,451 shares in the last quarter. Capital International Investors grew its holdings in shares of 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 valued at $7,062,094,000 after buying an additional 2,128,478 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of JPMorgan Chase & Co. by 3,836.2% during the fourth 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 acquiring an additional 1,480,379 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on JPM. UBS Group lifted their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Evercore ISI increased their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Finally, BMO Capital Markets upped 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $224.80 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market cap of $645.55 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The firm’s 50-day simple moving average is $209.28 and its two-hundred day simple moving average is $198.47.

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

Insider Activity at JPMorgan Chase & Co.

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