Martin & Co. Inc. TN lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.9% in the third quarter, Holdings Channel reports. The institutional investor owned 37,820 shares of the financial services provider’s stock after selling 4,175 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.2% of Martin & Co. Inc. TN’s holdings, making the stock its 25th biggest position. Martin & Co. Inc. TN’s holdings in JPMorgan Chase & Co. were worth $3,612,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Vista LLC acquired a new position in shares of JPMorgan Chase & Co. during the second quarter valued at about $102,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of JPMorgan Chase & Co. during the third quarter valued at about $102,000. Welch Investments LLC acquired a new position in shares of JPMorgan Chase & Co. during the third quarter valued at about $103,000. Legacy Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the third quarter valued at about $106,000. Finally, Atlantic Trust LLC acquired a new position in JPMorgan Chase & Co. in the second quarter worth about $136,000. 74.59% of the stock is owned by institutional investors and hedge funds.
In related news, Director James S. Crown purchased 7,280 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were acquired at an average cost of $113.37 per share, with a total value of $825,333.60. Following the completion of the purchase, the director now directly owns 305,875 shares of the company’s stock, valued at $34,677,048.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary E. Erdoes sold 65,101 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $112.25, for a total transaction of $7,307,587.25. Following the sale, the chief executive officer now directly owns 479,882 shares in the company, valued at $53,866,754.50. The disclosure for this sale can be found here. Insiders have sold 152,047 shares of company stock worth $17,098,115 over the last ninety days. Insiders own 0.88% of the company’s stock.
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.07. The firm had revenue of $24.15 billion for the quarter, compared to analysts’ expectations of $24.87 billion. JPMorgan Chase & Co. had a net margin of 21.46% and a return on equity of 11.63%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. sell-side analysts predict that JPMorgan Chase & Co. will post 8.9 EPS for the current fiscal year.
Several research analysts recently issued reports on JPM shares. Vetr lowered shares of JPMorgan Chase & Co. from a “sell” rating to a “strong sell” rating and set a $93.51 price target for the company. in a research report on Wednesday, January 10th. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Credit Suisse Group raised shares of JPMorgan Chase & Co. to a “buy” rating and set a $120.00 price target for the company in a research report on Friday, January 5th. Vining Sparks reissued a “buy” rating and issued a $120.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, January 12th. Finally, Jefferies Group reissued a “buy” rating and issued a $131.00 price target (up previously from $124.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $110.82.
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JPMorgan Chase & Co. Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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