Occidental Asset Management LLC Buys 3,622 Shares of JPMorgan Chase & Co. (NYSE:JPM)

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Occidental Asset Management LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 137.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,262 shares of the financial services provider’s stock after acquiring an additional 3,622 shares during the period. Occidental Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of JPMorgan Chase & Co. by 0.5% in the 4th quarter. Rhumbline Advisers now owns 5,870,204 shares of the financial services provider’s stock worth $573,049,000 after purchasing an additional 31,681 shares during the period. Fisher Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 4.0% in the 2nd quarter. Fisher Asset Management LLC now owns 5,811,331 shares of the financial services provider’s stock worth $649,707,000 after purchasing an additional 223,850 shares during the period. Thoroughbred Financial Services LLC lifted its stake in shares of JPMorgan Chase & Co. by 11,601.0% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 4,973,970 shares of the financial services provider’s stock worth $497,397,000 after purchasing an additional 4,931,461 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 7.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 4,565,517 shares of the financial services provider’s stock worth $510,424,000 after purchasing an additional 322,114 shares during the period. Finally, Sanders Capital LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.8% in the 2nd quarter. Sanders Capital LLC now owns 4,393,517 shares of the financial services provider’s stock worth $548,947,000 after purchasing an additional 119,356 shares during the period. Institutional investors and hedge funds own 72.31% of the company’s stock.

JPMorgan Chase & Co. stock opened at $107.61 on Thursday. The firm has a 50 day moving average of $112.30 and a 200 day moving average of $108.95. The firm has a market capitalization of $347.53 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.56 and a beta of 1.16. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month 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.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The company had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.52 billion. During the same period in the prior year, the firm posted $2.29 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 9.91 EPS for the current year.

In related news, Director Mellody L. Hobson acquired 18,200 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $109.91 per share, with a total value of $2,000,362.00. Following the acquisition, the director now directly owns 7,804 shares in the company, valued at approximately $857,737.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Scher sold 10,816 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total transaction of $1,243,840.00. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

Several brokerages have recently weighed in on JPM. Goldman Sachs Group reiterated a “neutral” rating and issued a $117.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Deutsche Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. DZ Bank reissued a “hold” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. 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 report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $121.94.

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 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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