Ethic Inc. Boosts Stake in JPMorgan Chase & Co.
Ethic Inc., an institutional investor, has significantly increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.9% during the second quarter. According to a recent filing with the Securities and Exchange Commission (SEC), Ethic Inc. now owns 92,027 shares of JPMorgan's stock worth $30,123,000 at the end of the most recent reporting period.
This investment is part of a larger trend of increased institutional ownership in JPMorgan Chase & Co., with 71.55% of the company's stock currently owned by institutional investors and hedge funds.
JPMorgan Chase & Co.'s financial performance has been strong, with the company reporting $6.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.59. The firm had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion.