Sara Bay Financial Has $14.12 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sara Bay Financial increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 69,801 shares of the financial services provider’s stock after acquiring an additional 7,590 shares during the period. JPMorgan Chase & Co. comprises about 5.7% of Sara Bay Financial’s portfolio, making the stock its 6th biggest position. Sara Bay Financial’s holdings in JPMorgan Chase & Co. were worth $14,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Stone House Investment Management LLC grew its stake in shares of JPMorgan Chase & Co. by 132.8% in the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares during the period. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Bare Financial Services Inc bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $35,000. Finally, Partnership Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $36,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research reports. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Royal Bank of Canada restated an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Finally, Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.71.

JPMorgan Chase & Co. Stock Up 0.7 %

Shares of NYSE:JPM opened at $215.41 on Tuesday. The firm has a market capitalization of $618.59 billion, a P/E ratio of 12.01, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $217.56. The stock has a 50 day moving average price of $204.99 and a 200-day moving average price of $196.00.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the previous year, the business earned $4.37 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.79% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

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.