Davis Selected Advisers cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,752,186 shares of the financial services provider’s stock after selling 755,072 shares during the period. JPMorgan Chase & Co. makes up about 5.2% of Davis Selected Advisers’ holdings, making the stock its 4th biggest position. Davis Selected Advisers owned 0.37% of JPMorgan Chase & Co. worth $1,217,869,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $102,000. Welch Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $103,000. Legacy Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $106,000. Atlantic Trust LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $136,000. Finally, Lipe & Dalton acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $143,000. 74.59% of the stock is currently owned by institutional investors.
JPM has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “buy” rating and set a $105.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, November 15th. Wells Fargo & Co set a $120.00 price target on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Wednesday, December 20th. Buckingham Research raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research report on Thursday, December 21st. Barclays upped their price target on JPMorgan Chase & Co. from $105.00 to $132.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Credit Suisse Group raised JPMorgan Chase & Co. to a “buy” rating and set a $120.00 price target on the stock in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $110.82.
JPMorgan Chase & Co. (NYSE JPM) opened at $116.25 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.01 and a quick ratio of 1.01. JPMorgan Chase & Co. has a 52 week low of $81.64 and a 52 week high of $119.33. The company has a market capitalization of $403,360.00, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.07. The company had revenue of $24.15 billion during the quarter, compared to the consensus estimate of $24.87 billion. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.71 EPS. equities research analysts forecast that JPMorgan Chase & Co. will post 8.9 EPS for the current fiscal year.
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JPMorgan Chase & Co. Company 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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