Granite Harbor Advisors Inc. Acquires 342 Shares of JPMorgan Chase & Co. $JPM

Granite Harbor Advisors Inc. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.2% in the first quarter, HoldingsChannel reports. The firm owned 5,893 shares of the financial services provider’s stock after buying an additional 342 shares during the period. Granite Harbor Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $1,446,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brooklyn Investment Group grew its holdings in JPMorgan Chase & Co. by 32.2% during the first quarter. Brooklyn Investment Group now owns 25,509 shares of the financial services provider’s stock worth $6,257,000 after purchasing an additional 6,212 shares during the period. Valley Brook Capital Group Inc. grew its holdings in JPMorgan Chase & Co. by 0.5% during the first quarter. Valley Brook Capital Group Inc. now owns 17,243 shares of the financial services provider’s stock worth $4,230,000 after purchasing an additional 93 shares during the period. Mill Creek Capital Advisors LLC grew its holdings in JPMorgan Chase & Co. by 0.8% during the first quarter. Mill Creek Capital Advisors LLC now owns 26,918 shares of the financial services provider’s stock worth $6,603,000 after purchasing an additional 222 shares during the period. Compass Financial Group INC SD boosted its holdings in shares of JPMorgan Chase & Co. by 6.3% during the first quarter. Compass Financial Group INC SD now owns 1,995 shares of the financial services provider’s stock worth $489,000 after acquiring an additional 119 shares during the period. Finally, Algert Global LLC boosted its holdings in shares of JPMorgan Chase & Co. by 11.8% during the first quarter. Algert Global LLC now owns 17,885 shares of the financial services provider’s stock worth $4,387,000 after acquiring an additional 1,885 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. HSBC restated a “reduce” rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, July 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $288.68.

JPMorgan Chase & Co. Stock Up 0.3%

Shares of JPM opened at $291.31 on Tuesday. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29. The company has a market cap of $801.03 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.93 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $286.92 and a two-hundred day simple moving average of $263.72.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the business earned $6.12 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.