JPMorgan Chase & Co. $JPM Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 701,037 shares of the financial services provider’s stock after selling 45,768 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.9% of Douglas Lane & Associates LLC’s holdings, making the stock its 2nd largest position. Douglas Lane & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $203,238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Florida Financial Advisors LLC boosted its position in JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after acquiring an additional 3,792 shares during the period. Fourth Dimension Wealth LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth $471,000. Crown Wealth Group LLC boosted its position in JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 222 shares during the period. Mosaic Financial Group LLC boosted its position in JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after acquiring an additional 78 shares during the period. Finally, Morse Asset Management Inc boosted its position in JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 420 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on JPM. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective on the stock. in a research note on Friday, June 27th. Finally, TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $291.67.

JPMorgan Chase & Co. Stock Up 0.4%

Shares of JPMorgan Chase & Co. stock opened at $306.88 on Friday. The stock’s fifty day moving average is $293.94 and its 200-day moving average is $267.38. The firm has a market capitalization of $843.84 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $307.55.

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

Insider Activity

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

About JPMorgan Chase & Co.

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.