Meridian Wealth Advisors LLC Buys 1,311 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Meridian Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,232 shares of the financial services provider’s stock after purchasing an additional 1,311 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.0% of Meridian Wealth Advisors LLC’s portfolio, making the stock its 11th biggest holding. Meridian Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $11,373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $6,016,878,000. Swedbank AB purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $800,130,000. Capital Research Global Investors grew 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 valued at $3,445,185,000 after buying an additional 3,252,451 shares during 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 grew its holdings 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 valued at $258,377,000 after buying an additional 1,480,379 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on JPM shares. Oppenheimer increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Jefferies Financial Group raised their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Morgan Stanley raised their target price 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. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $211.44.

JPMorgan Chase & Co. Trading Up 2.1 %

Shares of JPMorgan Chase & Co. stock opened at $216.97 on Tuesday. The stock has a market capitalization of $617.32 billion, a PE ratio of 12.10, a P/E/G ratio of 2.39 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The company’s fifty day simple moving average is $211.48 and its 200-day simple moving average is $200.41. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate 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 last year, the firm earned $4.37 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

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.