Earnest Partners LLC Lowers Stock Position in JPMorgan Chase & Co. $JPM

Earnest Partners LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the first quarter, Holdings Channel.com reports. The fund owned 41,053 shares of the financial services provider’s stock after selling 240 shares during the period. Earnest Partners LLC’s holdings in JPMorgan Chase & Co. were worth $10,070,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $33,000. Measured Risk Portfolios Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $54,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on JPM. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a research report on Friday, June 27th. Finally, Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.3%

NYSE JPM opened at $299.52 on Thursday. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29. The firm has a 50 day moving average of $290.51 and a two-hundred day moving average of $264.94. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $823.59 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $6.12 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.