Hamel Associates Inc. Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Hamel Associates Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 100.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 27,527 shares of the financial services provider’s stock after acquiring an additional 13,780 shares during the period. JPMorgan Chase & Co. makes up approximately 1.8% of Hamel Associates Inc.’s portfolio, making the stock its 26th largest position. Hamel Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $5,567,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital International Investors increased its stake in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after purchasing an additional 778,297 shares in the last quarter. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $6,016,878,000. Capital World Investors grew its holdings in JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after purchasing an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of JPMorgan Chase & Co. by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after buying an additional 695,502 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in shares of JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Robert W. Baird increased their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Jefferies Financial Group lifted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. 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 research note on Monday, July 15th. Finally, Citigroup raised their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $211.44.

JPMorgan Chase & Co. Stock Down 5.2 %

Shares of NYSE:JPM opened at $205.56 on Wednesday. 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 firm has a market cap of $590.30 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 2.39 and a beta of 1.12. The stock’s 50-day moving average price is $211.41 and its two-hundred day moving average price is $200.56. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $42.23 billion. During the same period in the prior year, the firm posted $4.37 EPS. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS 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.