Purus Wealth Management LLC Increases Stock Position in JPMorgan Chase & Co. $JPM

Purus Wealth Management LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,287 shares of the financial services provider’s stock after purchasing an additional 546 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.4% of Purus Wealth Management LLC’s portfolio, making the stock its 17th biggest holding. Purus Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,259,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Measured Risk Portfolios Inc. bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $54,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on JPM shares. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, June 30th. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $288.68.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $291.0580 on Friday. The stock has a market cap of $800.34 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. The firm’s fifty day simple moving average is $288.29 and its 200 day simple moving average is $264.27. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.12 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.