Fortune Financial Advisors LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Fortune Financial Advisors LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,997 shares of the financial services provider’s stock after selling 292 shares during the quarter. JPMorgan Chase & Co. comprises approximately 2.0% of Fortune Financial Advisors LLC’s holdings, making the stock its 11th biggest holding. Fortune Financial Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $3,236,000 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 company. Retirement Group LLC lifted its position in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $34,000. Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $37,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth $40,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.7 %

Shares of JPMorgan Chase & Co. stock opened at $207.86 on Tuesday. The business has a 50-day moving average price of $211.40 and a 200 day moving average price of $201.19. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48. The firm has a market cap of $596.90 billion, a P/E ratio of 11.59, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the previous year, the business earned $4.37 EPS. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on JPM shares. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Citigroup upped their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods increased their price objective on shares of 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. Finally, Robert W. Baird boosted their target price on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

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.