Massachusetts Financial Services.. recently announced the acquisition of new stake in JPMorgan Chase & Co. (NYSE:JPM). The institutional investor has increased its shareholding in the Financial company by 2.47% to 34.71 million shares with purchase of 0.84 million shares. This fresh investment now brings its stake to 1.14% valued currently at $3.35 billion. In addition, Morgan Stanley Smith Barney LLC (.. raised its holdings by 1.39 million to 33.29 million shares.
With over 14.15 million JPMorgan Chase & Co. (JPM) shares trading Monday and a closing price of $100.19 on the day, the dollar volume was approximately $1.42 billion. The shares have shown a positive weekly performance of 0.13% and its price on 08/31/20 lost nearly -2.51%. Currently, there are 3.08B common shares owned by the public and among those 3.02B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for JPM have a consensus price objective of $114.64. The analysts have set the share’s price value over the next 12 months at a high of $144.00 and a low of $80.00 should the stock experience a downside. Incidentally, analysts’ outlook for the JPMorgan Chase & Co. stock is 2.30 for the next 12 months. The average price target is 12.91% above its last price level and an upside to the estimated low will see the stock lose -25.24% over that period. But an upside of 30.42% will see the stock hit the forecast high price target while mean target price for the stock is $116.15.
Insiders at the company have transacted a total of 151 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 90 of these insider trades were purchases, accounting for 2,825,662 shares. Insider sales of the common stock occurred on 61 occasions, with total insider shares sold totaling 2,233,864 shares.
The top 3 mutual fund holders in JPMorgan Chase & Co. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and SPDR S&P 500 ETF. Vanguard Total Stock Market Index owns 80.82 million shares of the company’s stock, all valued at over $7.81 billion. The company bought an additional 3.92 million shares recently to bring their total holdings to about 2.65% of the shares outstanding. Vanguard 500 Index Fund bought 2.92 million shares to see its total holdings expand to 61.83 million shares valued at over $5.98 billion and representing 2.03% of the shares outstanding. SPDR S&P 500 ETF bought 66096.0 shares to bring its total holdings to over 32.69 million shares at a value of $3.16 billion. SPDR S&P 500 ETF now owns shares totaling to 1.07% of the shares outstanding.
Shares of JPMorgan Chase & Co. (NYSE: JPM) opened at $102.12, down -$0.65 from a prior closing price of $102.77. However, the script later closed the day at $100.19, down -2.51%. The company’s stock has a 5-day price change of 0.13% and 1.27% over the past three months. JPM shares are trading -28.13% year to date (YTD), with the 12-month market performance down to -8.80% lower. It has a 12-month low price of $76.91 and touched a high of $141.10 over the same period. Currently, 14.15 million shares have been traded, compared to an average intraday trading volume of 20.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.51%, 2.52%, and -9.15% respectively.
Institutional ownership of JPMorgan Chase & Co. (NYSE: JPM) shares accounts for 72.10% of the company’s 3.08B shares outstanding. Mutual fund holders own 35.04%, while other institutional holders and individual stakeholders account for 36.87% and 1.36% respectively.
It has a market capitalization of $304.09B and a beta (3y monthly) value of 1.15. The stock’s trailing 12-month PE ratio is 13.50, while the earnings-per-share (ttm) stands at $7.42. The company has a debt-to-equity ratio at 1.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.14% over the week and 2.20% over the month.
Analysts forecast that JPMorgan Chase & Co. (JPM) will achieve an EPS of $1.89 for the current quarter, $1.78 for the next quarter and $8.82 for 2021. The lowest estimate earnings-per-share for the quarter is $1.23 while analysts give the company a high EPS estimate of $2.38. Comparatively, EPS for the current quarter was $2.68 a year ago. Earnings per share for the fiscal year are expected to increase by 20.40%, and 53.19% over the next financial year. EPS should shrink at an annualized rate of -1.37% over the next five years, compared to 15.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate JPMorgan Chase & Co. (JPM) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 9 of the 27 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the JPM, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on July 24, 2020, with the firm’s price target at. Atlantic Equities coverage for the JPMorgan Chase & Co. (JPM) stock in a research note released on July 22, 2020 offered a Overweight rating with a price target of $120. Wolfe Research was of a view on July 09, 2020 that the stock is Outperform, while DA Davidson gave the stock Buy rating on July 09, 2020, issuing a price target of $102- $117. Seaport Global Securities on their part issued Buy rating on July 08, 2020.