Cypress Capital Group Boosts Stake in JPMorgan Chase & Co. (JPM)

Share on StockTwits

Cypress Capital Group lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,583 shares of the financial services provider’s stock after buying an additional 1,990 shares during the quarter. JPMorgan Chase & Co. comprises about 1.9% of Cypress Capital Group’s holdings, making the stock its 9th largest position. Cypress Capital Group’s holdings in JPMorgan Chase & Co. were worth $8,971,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in JPMorgan Chase & Co. by 0.7% during the first quarter. BlackRock Inc. now owns 228,054,279 shares of the financial services provider’s stock worth $25,079,128,000 after acquiring an additional 1,627,006 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in JPMorgan Chase & Co. by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 38,499,692 shares of the financial services provider’s stock worth $4,117,157,000 after acquiring an additional 530,709 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in JPMorgan Chase & Co. by 1.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 16,016,187 shares of the financial services provider’s stock worth $1,712,771,000 after acquiring an additional 262,688 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in JPMorgan Chase & Co. by 0.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 12,738,914 shares of the financial services provider’s stock worth $1,400,899,000 after acquiring an additional 49,436 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in JPMorgan Chase & Co. by 1.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 12,593,127 shares of the financial services provider’s stock worth $1,346,709,000 after acquiring an additional 169,061 shares in the last quarter. Institutional investors own 70.70% of the company’s stock.

In other JPMorgan Chase & Co. news, CEO Gordon Smith sold 30,725 shares of the firm’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by company insiders.

Several research analysts recently issued reports on JPM shares. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Credit Suisse Group set a $130.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Thursday, July 12th. Societe Generale reissued a “neutral” rating and set a $119.50 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 16th. DZ Bank raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Finally, Goldman Sachs Group reissued a “neutral” rating and set a $124.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $120.23.

JPMorgan Chase & Co. stock opened at $114.32 on Friday. JPMorgan Chase & Co. has a 1-year low of $88.24 and a 1-year high of $119.33. The firm has a market capitalization of $393.27 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.01 and a current ratio of 1.01.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, July 13th. The financial services provider reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.07. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. The firm had revenue of $27.75 billion for the quarter, compared to analyst estimates of $27.62 billion. equities research analysts predict that JPMorgan Chase & Co. will post 9.15 EPS for the current year.

About JPMorgan Chase & Co.

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.

Featured Story: What are CEFs?

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply