Fortis Capital Advisors LLC Trims Position in JPMorgan Chase & Co. $JPM

Fortis Capital Advisors LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,781 shares of the financial services provider’s stock after selling 862 shares during the quarter. Fortis Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,663,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after purchasing an additional 454,226 shares during the period. GAMMA Investing LLC raised its position in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after buying an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of JPMorgan Chase & Co. by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock worth $4,523,588,000 after buying an additional 890,553 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of JPMorgan Chase & Co. by 16.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock worth $4,207,028,000 after buying an additional 2,465,572 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.6%

Shares of JPMorgan Chase & Co. stock opened at $297.70 on Wednesday. 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 company has a market cap of $818.60 billion, a P/E ratio of 15.27, a PEG ratio of 1.95 and a beta of 1.13. The firm’s 50 day moving average price is $293.36 and its 200-day moving average price is $266.44. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $305.15.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the firm earned $6.12 earnings per share. JPMorgan Chase & Co.’s revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JPM. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a report on Wednesday, July 9th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday, July 7th. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Monday, July 7th. Finally, Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $291.67.

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.