Novus Advisors LLC Invests $264,000 in JPMorgan Chase & Co. (NYSE:JPM)

Novus Advisors LLC bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 1,103 shares of the financial services provider’s stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after buying an additional 182,648 shares during the period. United Bank lifted its holdings in shares of JPMorgan Chase & Co. by 2.5% in the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after buying an additional 614 shares during the period. Everhart Financial Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 10.6% in the 3rd quarter. Everhart Financial Group Inc. now owns 24,794 shares of the financial services provider’s stock worth $5,228,000 after buying an additional 2,383 shares during the period. Vestia Personal Wealth Advisors purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $218,000. Finally, Keystone Financial Services lifted its holdings in shares of JPMorgan Chase & Co. by 4.9% in the 3rd quarter. Keystone Financial Services now owns 8,391 shares of the financial services provider’s stock worth $1,769,000 after buying an additional 393 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $232.94 on Monday. The stock has a market capitalization of $651.31 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The stock’s 50-day moving average price is $258.29 and its 200 day moving average price is $238.95. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.04 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Finally, Barclays upped their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $252.89.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.