Rench Wealth Management Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,705 shares of the financial services provider’s stock after selling 2,837 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 3.3% of Rench Wealth Management Inc.’s holdings, making the stock its 7th largest position. Rench Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,868,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Disciplined Investments LLC boosted its holdings in shares of JPMorgan Chase & Co. by 5.2% in the first quarter. Disciplined Investments LLC now owns 9,914 shares of the financial services provider’s stock valued at $1,292,000 after acquiring an additional 486 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its position in JPMorgan Chase & Co. by 0.9% in the first quarter. Duff & Phelps Investment Management Co. now owns 31,965 shares of the financial services provider’s stock worth $4,165,000 after purchasing an additional 300 shares during the period. Qsemble Capital Management LP bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at $938,000. Bank of Hawaii increased its position in shares of JPMorgan Chase & Co. by 9.7% during the 1st quarter. Bank of Hawaii now owns 65,083 shares of the financial services provider’s stock valued at $8,481,000 after purchasing an additional 5,774 shares during the period. Finally, Baron Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 6.8% in the 1st quarter. Baron Wealth Management LLC now owns 4,476 shares of the financial services provider’s stock worth $583,000 after buying an additional 285 shares in the last quarter. 70.10% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at JPMorgan Chase & Co.
In related news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $157.16, for a total value of $677,359.60. Following the completion of the sale, the general counsel now owns 57,735 shares of the company’s stock, valued at approximately $9,073,632.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $157.16, for a total value of $677,359.60. Following the completion of the sale, the general counsel now directly owns 57,735 shares in the company, valued at $9,073,632.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the completion of the sale, the chief executive officer now directly owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The disclosure for this sale can be found here. Insiders sold 13,593 shares of company stock valued at $1,992,388 in the last three months. Corporate insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Trading Up 0.2 %
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.75. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The business had revenue of $42.40 billion during the quarter, compared to analyst estimates of $38.66 billion. During the same period last year, the company earned $2.76 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 34.1% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 15.57 EPS for the current fiscal year.
Analysts Set New Price Targets
JPM has been the subject of several research reports. Jefferies Financial Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $165.00 in a research note on Tuesday, July 11th. Oppenheimer reduced their price objective on shares of JPMorgan Chase & Co. from $227.00 to $219.00 and set an “outperform” rating for the company in a research report on Friday. Societe Generale downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Atlantic Securities raised their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Finally, Odeon Capital Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $165.89.
View Our Latest Stock Report on JPM
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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