Advisors Asset Management Inc. Sells 1,559 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Advisors Asset Management Inc. has reduced its stake in JPMorgan Chase & Co. by 2.0% in the first quarter, owning 75,979 shares valued at approximately $18.6 million after selling 1,559 shares.
• Several large investors, including MJT & Associates and University of Illinois Foundation, have also initiated new positions in JPMorgan, indicating growing interest from institutional investors.
• Analysts have recently increased their price targets for JPMorgan Chase & Co., with Bank of America raising its target from $330 to $340, and the stock currently holds a consensus rating of "Moderate Buy."

Advisors Asset Management Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,979 shares of the financial services provider's stock after selling 1,559 shares during the quarter. Advisors Asset Management Inc.'s holdings in JPMorgan Chase & Co. were worth $18,638,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Wimmer Associates 1 LLC grew its stake in shares of JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after purchasing an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after purchasing an additional 40 shares during the last quarter. First Command Advisory Services Inc. grew its stake in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after purchasing an additional 40 shares during the last quarter. Black Swift Group LLC grew its stake in shares of JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after purchasing an additional 40 shares during the last quarter. Finally, Beacon Bridge Wealth Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 1.8% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 3.0%

Shares of NYSE JPM traded down $9.04 during trading on Friday, hitting $294.79. 9,831,520 shares of the company traded hands, compared to its average volume of 6,437,430. The business's fifty day moving average is $293.16 and its 200 day moving average is $266.12. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $305.15. The firm has a market capitalization of $810.59 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 2.02 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the business posted $6.12 EPS. The firm's revenue was down 10.5% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on JPM shares. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and three have assigned 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. 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.