Banque Pictet & Cie SA Grows Position in JPMorgan Chase & Co. (JPM)

Banque Pictet & Cie SA increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 179,503 shares of the financial services provider’s stock after acquiring an additional 1,897 shares during the quarter. Banque Pictet & Cie SA’s holdings in JPMorgan Chase & Co. were worth $18,704,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Quad Cities Investment Group LLC bought a new position in JPMorgan Chase & Co. in the second quarter worth about $124,000. Ballew Advisors Inc raised its holdings in JPMorgan Chase & Co. by 104.2% in the second quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 619 shares in the last quarter. Kwmg LLC bought a new position in JPMorgan Chase & Co. in the second quarter worth about $158,000. Stelac Advisory Services LLC bought a new position in JPMorgan Chase & Co. in the first quarter worth about $162,000. Finally, TradeLink Capital LLC bought a new position in JPMorgan Chase & Co. in the second quarter worth about $179,000. 70.26% of the stock is owned by institutional investors.

In related news, Director Mellody L. Hobson acquired 1,150 shares of the business’s stock in a transaction dated Friday, October 19th. The shares were purchased at an average price of $108.94 per share, for a total transaction of $125,281.00. Following the completion of the acquisition, the director now directly owns 2,632 shares in the company, valued at approximately $286,730.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.73% of the company’s stock.

JPM opened at $112.24 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $102.20 and a 52-week high of $119.33. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $381.60 billion, a PE ratio of 16.34, a P/E/G ratio of 1.80 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, October 12th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.10. JPMorgan Chase & Co. had a net margin of 23.39% and a return on equity of 13.90%. The firm had revenue of $27.26 billion for the quarter, compared to the consensus estimate of $27.20 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 9.26 earnings per share for the current fiscal year.

JPM has been the subject of a number of recent research reports. Vining Sparks reiterated a “buy” rating and issued a $125.00 target price on shares of JPMorgan Chase & Co. in a report on Friday, October 12th. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Wells Fargo & Co set a $130.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Thursday, November 15th. Goldman Sachs Group set a $130.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a report on Friday, October 12th. Finally, Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $126.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. JPMorgan Chase & Co. presently has a consensus rating of “Buy” and an average target price of $123.49.

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JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

Further Reading: What are retained earnings?

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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