Hobbs Group Advisors LLC Buys Shares of 1,307 JPMorgan Chase & Co. (NYSE:JPM)

Hobbs Group Advisors LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,307 shares of the financial services provider’s stock, valued at approximately $264,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $6,016,878,000. Swedbank AB acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $800,130,000. Capital Research Global Investors raised its position in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the period. Capital International Investors raised its position in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its position in shares of JPMorgan Chase & Co. by 3,836.2% during the fourth 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 during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Barclays lifted their target price on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. UBS Group lifted their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Finally, Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $205.71.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM traded down $0.54 during midday trading on Wednesday, hitting $213.98. 1,643,064 shares of the company’s stock were exchanged, compared to its average volume of 9,132,358. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $217.56. The company’s 50 day moving average price is $205.39 and its 200 day moving average price is $196.28. The firm has a market capitalization of $614.48 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the previous year, the company posted $4.37 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the sale, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Profile

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.