Marco Investment Management LLC Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Marco Investment Management LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,467 shares of the financial services provider’s stock after purchasing an additional 1,422 shares during the quarter. JPMorgan Chase & Co. comprises 3.0% of Marco Investment Management LLC’s investment portfolio, making the stock its 6th biggest position. Marco Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $32,456,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in JPM. Norges Bank purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $6,016,878,000. Swedbank AB bought a new position in JPMorgan Chase & Co. in the first quarter worth about $800,130,000. Capital Research Global Investors lifted its stake in shares of JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Capital International Investors boosted its holdings in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after buying an additional 2,128,478 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of JPMorgan Chase & Co. by 3,836.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after purchasing an additional 1,480,379 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Royal Bank of Canada restated an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Robert W. Baird lifted their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Finally, Evercore ISI increased their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $207.86 on Tuesday. The stock has a 50-day simple moving average of $211.40 and a 200-day simple moving average of $201.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The stock has a market capitalization of $596.90 billion, a PE ratio of 11.59, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. The firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $4.37 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

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, 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.