Bay Rivers Group Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Bay Rivers Group raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,290 shares of the financial services provider’s stock after buying an additional 290 shares during the quarter. Bay Rivers Group’s holdings in JPMorgan Chase & Co. were worth $1,272,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in JPM. Capital International Investors increased its stake in shares of 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 worth $8,471,687,000 after acquiring an additional 778,297 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $6,016,878,000. Capital World Investors raised its stake in JPMorgan Chase & Co. by 0.4% during 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 buying an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 worth $3,629,757,000 after acquiring an additional 695,502 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of JPMorgan Chase & Co. by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock worth $3,389,329,000 after acquiring an additional 154,426 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM traded up $0.08 during trading on Wednesday, hitting $214.60. 5,202,301 shares of the stock traded hands, compared to its average volume of 9,154,462. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $217.56. The firm has a 50-day simple moving average of $205.85 and a 200-day simple moving average of $196.41. The company has a market capitalization of $616.26 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

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

Analysts Set New Price Targets

Several analysts recently commented on JPM shares. Barclays increased their price objective 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. Robert W. Baird boosted their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. UBS Group upped their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $205.71.

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.