JPMorgan Chase & Co. $JPM Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,162 shares of the financial services provider’s stock after selling 15,945 shares during the quarter. JPMorgan Chase & Co. comprises 3.8% of Howe & Rusling Inc.’s investment portfolio, making the stock its biggest holding. Howe & Rusling Inc.’s holdings in JPMorgan Chase & Co. were worth $45,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after buying an additional 454,226 shares during the period. GAMMA Investing LLC increased its stake in JPMorgan Chase & Co. by 25,861.9% in the 1st 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. lifted its position in shares of JPMorgan Chase & Co. by 2.7% in 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 acquiring 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 acquiring an additional 890,553 shares during 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 acquiring an additional 2,465,572 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on JPM. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Phillip Securities downgraded JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.67.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $305.39 on Friday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $305.73. The stock has a market capitalization of $839.75 billion, a P/E ratio of 15.67, a PEG ratio of 2.00 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The business’s fifty day moving average price is $293.72 and its 200 day moving average price is $266.98.

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

About JPMorgan Chase & Co.

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.