Sherman Asset Management Inc. Buys New Shares in JPMorgan Chase & Co. (NYSE:JPM)

Sherman Asset Management Inc. purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 576 shares of the financial services provider’s stock, valued at approximately $138,000.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after buying an additional 182,648 shares in the last quarter. Consolidated Planning Corp lifted its position in shares of JPMorgan Chase & Co. by 3.8% during the 3rd quarter. Consolidated Planning Corp now owns 57,612 shares of the financial services provider’s stock valued at $12,148,000 after acquiring an additional 2,095 shares during the period. Mainstream Capital Management LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth $1,729,000. Dudley Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 0.3% during the third quarter. Dudley Capital Management LLC now owns 24,861 shares of the financial services provider’s stock worth $5,242,000 after acquiring an additional 64 shares in the last quarter. Finally, Tandem Investment Advisors Inc. grew its holdings in JPMorgan Chase & Co. by 7.8% in the third quarter. Tandem Investment Advisors Inc. now owns 2,527 shares of the financial services provider’s stock worth $533,000 after purchasing an additional 182 shares during the period. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Finally, Citigroup increased their target price on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Trading Down 1.3 %

NYSE:JPM opened at $229.26 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The firm has a 50-day moving average price of $259.05 and a two-hundred day moving average price of $238.78. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a market cap of $641.03 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $3.04 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the transaction, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the sale, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock worth $12,448,445 in the last ninety days. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.