Adell Harriman & Carpenter Inc. Has $23.29 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Adell Harriman & Carpenter Inc. grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the second quarter, Holdings Channel reports. The institutional investor owned 115,124 shares of the financial services provider’s stock after acquiring an additional 2,857 shares during the period. JPMorgan Chase & Co. makes up 1.8% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 15th largest holding. Adell Harriman & Carpenter Inc.’s holdings in JPMorgan Chase & Co. were worth $23,285,000 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. Allegheny Financial Group LTD boosted its position in shares of JPMorgan Chase & Co. by 33.6% during the second quarter. Allegheny Financial Group LTD now owns 8,570 shares of the financial services provider’s stock valued at $1,733,000 after buying an additional 2,157 shares during the last quarter. Tortoise Investment Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 8,624 shares of the financial services provider’s stock worth $1,744,000 after acquiring an additional 145 shares during the last quarter. Hemington Wealth Management grew its stake in shares of JPMorgan Chase & Co. by 2.1% in the 2nd quarter. Hemington Wealth Management now owns 9,396 shares of the financial services provider’s stock worth $1,900,000 after acquiring an additional 194 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of JPMorgan Chase & Co. by 1.7% in the second quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 63 shares during the last quarter. Finally, Affiance Financial LLC lifted its position in shares of JPMorgan Chase & Co. by 4.2% during the second quarter. Affiance Financial LLC now owns 7,448 shares of the financial services provider’s stock valued at $1,506,000 after purchasing an additional 300 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Down 2.4 %

JPM opened at $212.46 on Monday. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The company has a market cap of $610.11 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $211.25 and a 200 day moving average of $200.17.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping 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 return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the business posted $4.37 earnings per share. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JPM shares. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Robert W. Baird lifted their price target on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Citigroup upped their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $211.44.

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.