Financial Advisory Partners LLC Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Financial Advisory Partners LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,011 shares of the financial services provider’s stock after selling 537 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.6% of Financial Advisory Partners LLC’s holdings, making the stock its 16th largest position. Financial Advisory Partners LLC’s holdings in JPMorgan Chase & Co. were worth $4,250,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Stone House Investment Management LLC raised its stake in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares during the last quarter. Retirement Group LLC lifted its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the period. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the first quarter worth about $34,000. Bare Financial Services Inc bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $35,000. Finally, Partnership Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $36,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPM stock traded up $0.08 during mid-day trading on Wednesday, hitting $214.60. The company had a trading volume of 5,179,490 shares, compared to its average volume of 9,154,324. The company has a 50-day moving average price of $205.39 and a 200 day moving average price of $196.28. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $217.56. The company has a market capitalization of $616.26 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the previous year, the business earned $4.37 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research reports. Jefferies Financial Group raised their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Royal Bank of Canada restated an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. UBS Group lifted their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, Piper Sandler upped their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

Insider Activity

In related news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.