Hexavest Inc. Buys Shares of 761,138 JPMorgan Chase & Co. (JPM)

Hexavest Inc. bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 761,138 shares of the financial services provider’s stock, valued at approximately $79,311,000. JPMorgan Chase & Co. accounts for 1.0% of Hexavest Inc.’s portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds also recently modified their holdings of the stock. Keeler Thomas Management LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $112,000. Financial Gravity Wealth Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $150,000. FSI Group LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $159,000. Stelac Advisory Services LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $162,000. Finally, Private Ocean LLC raised its position in JPMorgan Chase & Co. by 94.7% during the 1st quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 824 shares during the last quarter. Institutional investors own 70.72% of the company’s stock.

Shares of NYSE:JPM opened at $113.50 on Friday. JPMorgan Chase & Co. has a 52-week low of $90.76 and a 52-week high of $119.33. The company has a market capitalization of $388.09 billion, a PE ratio of 16.52, a PEG ratio of 1.85 and a beta of 1.16. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 1.01.

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

A number of research analysts have commented on JPM shares. Keefe, Bruyette & Woods reaffirmed a “$111.53” rating and set a $127.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 18th. Royal Bank of Canada reaffirmed a “buy” rating and set a $120.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Credit Suisse Group set a $130.00 price target on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Thursday, July 12th. DZ Bank raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Finally, UBS Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Ten research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $120.13.

In other news, CEO Gordon Smith sold 30,725 shares of the stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $114.01, for a total value of $3,502,957.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.73% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company 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.

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

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