Graypoint LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Graypoint LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,492 shares of the financial services provider’s stock after selling 4,848 shares during the quarter. Graypoint LLC’s holdings in JPMorgan Chase & Co. were worth $7,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Retirement Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $34,000. Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $40,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 0.4 %

NYSE JPM opened at $219.33 on Thursday. The company’s fifty day simple moving average is $210.67 and its 200-day simple moving average is $199.54. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock has a market cap of $629.84 billion, a P/E ratio of 12.23, a PEG ratio of 2.62 and a beta of 1.12.

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. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same period in the previous year, the company posted $4.37 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JPM shares. Jefferies Financial Group lifted their price target 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. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.35.

Insider Transactions at JPMorgan Chase & Co.

In other 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 transaction of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company 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.