Gruss & Co. LLC Invests $240,000 in JPMorgan Chase & Co. (NYSE:JPM)

Gruss & Co. LLC acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,000 shares of the financial services provider’s stock, valued at approximately $240,000. JPMorgan Chase & Co. comprises about 1.0% of Gruss & Co. LLC’s holdings, making the stock its 19th largest holding.

Several other large investors also recently bought and sold shares of JPM. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $25,000. Midwest Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Peterson Financial Group Inc. acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at approximately $45,000. Legacy Investment Solutions LLC acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at approximately $45,000. Finally, Collier Financial acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $227.89 on Thursday. 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 company has a fifty day moving average of $258.81 and a two-hundred day moving average of $238.70. The stock has a market capitalization of $637.22 billion, a PE ratio of 11.54, a P/E/G ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. As a group, research analysts forecast 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, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,326 shares of company stock valued at $12,448,445 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. 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.