Spectrum Management Group Inc. Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Spectrum Management Group Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 46,794 shares of the financial services provider’s stock after buying an additional 3,571 shares during the quarter. JPMorgan Chase & Co. makes up 1.5% of Spectrum Management Group Inc.’s holdings, making the stock its 11th biggest holding. Spectrum Management Group Inc.’s holdings in JPMorgan Chase & Co. were worth $5,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. New England Investment & Retirement Group Inc. boosted its position in JPMorgan Chase & Co. by 27.2% during the 2nd quarter. New England Investment & Retirement Group Inc. now owns 6,695 shares of the financial services provider’s stock worth $748,000 after purchasing an additional 1,433 shares during the period. BTR Capital Management Inc. boosted its position in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. BTR Capital Management Inc. now owns 164,688 shares of the financial services provider’s stock worth $18,412,000 after purchasing an additional 1,223 shares during the period. Annex Advisory Services LLC boosted its position in JPMorgan Chase & Co. by 21.5% during the 2nd quarter. Annex Advisory Services LLC now owns 27,273 shares of the financial services provider’s stock worth $3,050,000 after purchasing an additional 4,834 shares during the period. Thomasville National Bank boosted its position in JPMorgan Chase & Co. by 344.4% during the 2nd quarter. Thomasville National Bank now owns 88,169 shares of the financial services provider’s stock worth $9,857,000 after purchasing an additional 68,329 shares during the period. Finally, Occidental Asset Management LLC boosted its position in JPMorgan Chase & Co. by 137.2% during the 2nd quarter. Occidental Asset Management LLC now owns 6,262 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 3,622 shares during the period. 72.31% of the stock is owned by institutional investors.

NYSE JPM opened at $107.98 on Friday. JPMorgan Chase & Co. has a 52 week low of $91.11 and a 52 week high of $119.24. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The stock has a market cap of $343.12 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.55 and a beta of 1.16. The company has a 50-day moving average price of $112.23 and a two-hundred day moving average price of $108.98.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.32. The business had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.52 billion. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm posted $2.29 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 9.91 earnings per share for the current fiscal year.

A number of analysts recently weighed in on JPM shares. Zacks Investment Research cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Deutsche Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Friday, June 28th. DZ Bank restated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. ValuEngine cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Co set a $125.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $121.94.

In other news, insider Lori A. Beer sold 13,341 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total value of $1,524,609.48. Following the completion of the transaction, the insider now directly owns 10,130 shares in the company, valued at $1,157,656.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mellody L. Hobson acquired 18,200 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $109.91 per share, with a total value of $2,000,362.00. Following the completion of the acquisition, the director now directly owns 7,804 shares of the company’s stock, valued at $857,737.64. The disclosure for this purchase can be found here. Company insiders own 0.76% of the company’s stock.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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