Invst LLC Trims Stock Position in JPMorgan Chase & Co. $JPM

Invst LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 25.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,307 shares of the financial services provider’s stock after selling 3,821 shares during the quarter. Invst LLC’s holdings in JPMorgan Chase & Co. were worth $2,774,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after acquiring an additional 454,226 shares during the period. GAMMA Investing LLC boosted its stake in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after purchasing an additional 548,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after purchasing an additional 890,553 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock valued at $4,207,028,000 after purchasing an additional 2,465,572 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent research reports. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a research note on Monday, July 7th. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Wednesday, July 9th. HSBC reiterated a “reduce” rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $291.67.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $305.39 on Friday. The company has a market cap of $839.75 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $305.73. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a 50 day moving average of $293.72 and a two-hundred day moving average of $266.98.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $6.12 earnings per share. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.