Meridian Investment Counsel Inc. Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Meridian Investment Counsel Inc. increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 26.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,805 shares of the financial services provider’s stock after acquiring an additional 1,443 shares during the period. Meridian Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $55,033,000. Tennessee Valley Asset Management Partners increased its stake in shares of JPMorgan Chase & Co. by 2.3% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 6,550 shares of the financial services provider’s stock valued at $1,114,000 after purchasing an additional 150 shares in the last quarter. Simplicity Solutions LLC increased its stake in shares of JPMorgan Chase & Co. by 2.7% in the 4th quarter. Simplicity Solutions LLC now owns 96,146 shares of the financial services provider’s stock valued at $16,354,000 after purchasing an additional 2,537 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Crestwood Advisors Group LLC now owns 246,401 shares of the financial services provider’s stock valued at $41,913,000 after purchasing an additional 1,961 shares in the last quarter. Finally, MV Capital Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. MV Capital Management Inc. now owns 29,651 shares of the financial services provider’s stock valued at $5,044,000 after purchasing an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

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

Analysts Set New Price Targets

JPM has been the subject of several recent analyst reports. Jefferies Financial Group lifted their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Robert W. Baird boosted their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, UBS Group boosted their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

JPMorgan Chase & Co. Stock Up 0.7 %

NYSE:JPM traded up $1.48 during trading hours on Monday, hitting $215.45. The company’s stock had a trading volume of 6,022,653 shares, compared to its average volume of 9,200,996. The stock has a market capitalization of $618.70 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The stock has a fifty day moving average of $204.67 and a 200-day moving average of $195.71. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $217.56.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $4.37 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

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.