JPMorgan Chase & Co. (NYSE:JPM) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 18,070,000 shares, an increase of 9.9% from the February 13th total of 16,440,000 shares. Based on an average daily trading volume, of 9,720,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 0.6% of the shares of the stock are short sold.
JPMorgan Chase & Co. Trading Up 2.6 %
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Shares of NYSE JPM opened at $134.62 on Wednesday. The company’s 50 day simple moving average is $139.56 and its 200 day simple moving average is $129.12. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $144.34. The firm has a market capitalization of $396.23 billion, a P/E ratio of 11.14, a P/E/G ratio of 2.07 and a beta of 1.12. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.46. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The business had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. During the same period in the prior year, the business posted $3.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 18.1% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 12.9 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on JPM. Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $148.00 to $155.00 in a research note on Monday. UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Royal Bank of Canada set a $130.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Finally, Oppenheimer lifted their price objective on shares of JPMorgan Chase & Co. from $177.00 to $186.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.78.
Insiders Place Their Bets
In other news, Director Mellody L. Hobson acquired 375 shares of the stock in a transaction on Thursday, January 19th. The shares were purchased at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the transaction, the director now owns 22,040 shares in the company, valued at approximately $2,965,041.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the completion of the sale, the general counsel now owns 48,311 shares of the company’s stock, valued at approximately $6,778,516.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction on Thursday, January 19th. The shares were bought at an average cost of $134.53 per share, with a total value of $50,448.75. Following the purchase, the director now directly owns 22,040 shares in the company, valued at $2,965,041.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is owned by insiders.
Hedge Funds Weigh In On JPMorgan Chase & Co.
Large investors have recently bought and sold shares of the business. Cantor Fitzgerald Investment Advisor L.P increased its stake in JPMorgan Chase & Co. by 81.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after purchasing an additional 99,636 shares in the last quarter. BCK Partners Inc. bought a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $2,455,000. LSV Asset Management increased its stake in JPMorgan Chase & Co. by 35.6% in the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after purchasing an additional 9,800 shares in the last quarter. Wsfs Capital Management LLC increased its stake in JPMorgan Chase & Co. by 70.8% in the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 1,749 shares in the last quarter. Finally, Lumature Wealth Partners LLC increased its position in shares of JPMorgan Chase & Co. by 1,451.4% during the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 3,527 shares in the last quarter. 67.89% of the stock is currently owned by institutional investors and hedge funds.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company, which engages in providing 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.
Further Reading
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