Wed Sep 18 00:36:56 UTC 2024: ## Hedge Funds Bet Big on JPMorgan Chase: RS Crum Inc. Joins the Party

**New York, NY** – JPMorgan Chase & Co. (NYSE:JPM) continues to be a favorite among hedge funds, with RS Crum Inc. taking a new position in the financial services giant during the second quarter, according to a recent SEC filing.

The fund acquired 1,509 shares, valued at approximately $305,000, demonstrating confidence in the company’s performance. This move follows a trend of other hedge funds adjusting their positions in JPMorgan Chase.

Capital International Investors increased its holdings by 1.9% in the first quarter, now owning 42,294,992 shares valued at $8,471,687,000. Meanwhile, Norges Bank purchased a new stake in the fourth quarter, worth $6,016,878,000. Capital World Investors and Capital Research Global Investors also boosted their holdings in the first quarter, reflecting a strong belief in the company’s future.

Analysts are generally bullish on JPMorgan Chase, with Oppenheimer, UBS Group, and Robert W. Baird all increasing their target price for the stock in recent months. However, Morgan Stanley and Wolfe Research have taken a more cautious approach, with Morgan Stanley decreasing its target price and Wolfe Research downgrading the stock to a “peer perform” rating.

Overall, the company has a “Moderate Buy” consensus rating with a price target of $211.06 based on data from MarketBeat.com.

JPMorgan Chase’s recent earnings report, released on July 12th, exceeded analysts’ expectations with $6.12 earnings per share and $50.80 billion in revenue. This strong performance further bolsters the company’s position in the financial services sector.

The stock opened at $209.50 on Wednesday and currently boasts a market capitalization of $601.61 billion.

**Institutional investors currently own 71.55% of JPMorgan Chase stock, highlighting the substantial confidence in the company’s future prospects.**

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