South Dakota Investment Council trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 26.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 219,987 shares of the financial services provider’s stock after selling 77,600 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.6% of South Dakota Investment Council’s holdings, making the stock its 21st largest holding. South Dakota Investment Council’s holdings in JPMorgan Chase & Co. were worth $28,667,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after buying an additional 97,907,897 shares during the period. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $3,894,646,000. Price T Rowe Associates Inc. MD grew its position in JPMorgan Chase & Co. by 71.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock valued at $4,087,917,000 after acquiring an additional 12,654,947 shares during the period. Morgan Stanley increased its stake in JPMorgan Chase & Co. by 15.9% during the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after acquiring an additional 8,088,433 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $556,791,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Wall Street Analysts Forecast Growth
JPM has been the subject of a number of research analyst reports. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $179.00 to $182.00 in a research report on Sunday, July 16th. BMO Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th. Finally, Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research report on Friday, July 7th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.89.
JPMorgan Chase & Co. Stock Up 0.2 %
JPM opened at $148.97 on Monday. The stock’s 50 day moving average price is $149.14 and its 200 day moving average price is $140.86. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $432.92 billion, a P/E ratio of 9.59, a P/E/G ratio of 1.91 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $159.38.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.75. The business had revenue of $42.40 billion for the quarter, compared to analysts’ expectations of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The company’s revenue was up 34.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.76 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 15.57 earnings per share for the current year.
Insiders Place Their Bets
In other news, General Counsel Stacey Friedman sold 4,310 shares of the 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 transaction, the general counsel now directly owns 57,735 shares in the company, valued at $9,073,632.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction 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 sale, the general counsel now owns 57,735 shares of the company’s stock, valued at approximately $9,073,632.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Peter Scher sold 2,482 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $141.39, for a total value of $350,929.98. Following the transaction, the insider now directly owns 41,333 shares of the company’s stock, valued at approximately $5,844,072.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,593 shares of company stock worth $1,992,388. 0.79% of the stock is owned by corporate insiders.
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 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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