Alliancebernstein L.P. Sells 613,940 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Alliancebernstein L.P. reduced its stake in JPMorgan Chase & Co. by 10% during Q1, holding approximately $1.35 billion worth of shares after selling 613,940 shares.
• Multiple institutional investors have adjusted their positions in JPMorgan, with Florida Financial Advisors LLC increasing its stake by 62.5%.
• Analyst ratings for JPMorgan Chase & Co. are mixed, with a consensus rating of "Moderate Buy" and a target price averaging about $291.67.

Alliancebernstein L.P. trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,495,204 shares of the financial services provider's stock after selling 613,940 shares during the quarter. Alliancebernstein L.P. owned about 0.20% of JPMorgan Chase & Co. worth $1,347,974,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after purchasing an additional 1,229 shares during the period. Highview Capital Management LLC DE grew its stake in shares of JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after purchasing an additional 1,893 shares during the period. KKM Financial LLC grew its stake in shares of JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after purchasing an additional 640 shares during the period. Finally, Algert Global LLC grew its stake in shares of JPMorgan Chase & Co. by 11.8% during the 4th quarter. Algert Global LLC now owns 16,000 shares of the financial services provider's stock valued at $3,835,000 after purchasing an additional 1,690 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JPM. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Finally, Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $291.67.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred 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. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded down $9.04 during midday trading on Friday, reaching $294.79. 9,831,520 shares of the company were exchanged, compared to its average volume of 6,437,430. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The business's fifty day moving average is $293.16 and its two-hundred day moving average is $266.12. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $305.15. The stock has a market cap of $810.59 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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 firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the business earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

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.