Meeder Advisory Services Inc. Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Meeder Advisory Services Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 35.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,408 shares of the financial services provider’s stock after buying an additional 17,558 shares during the period. JPMorgan Chase & Co. accounts for 1.0% of Meeder Advisory Services Inc.’s investment portfolio, making the stock its 20th largest holding. Meeder Advisory Services Inc.’s holdings in JPMorgan Chase & Co. were worth $13,634,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Retirement Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $34,000. Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth $40,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $209.50 on Wednesday. The company has a 50-day simple moving average of $211.43 and a 200-day simple moving average of $201.36. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $601.61 billion, a PE ratio of 11.68, a P/E/G ratio of 2.33 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.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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 during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter last year, the firm posted $4.37 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Morgan Stanley decreased their price target on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $211.06.

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.