AlTi Global Inc. Has $7.75 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• AlTi Global Inc. has cut its holdings in JPMorgan Chase & Co. by 8.1%, selling 2,784 shares and bringing its total ownership to 31,588 shares valued at approximately $7.75 million.
• Insider selling was reported, with COO Jennifer Piepszak and Director Linda Bammann reducing their holdings by 8.94% and 10.36%, respectively, in transactions totaling over $4.4 million.
• Despite a recent revenue decline of 10.5% year-over-year, JPMorgan Chase & Co. surpassed earnings expectations, reporting $4.96 per share against a forecast of $4.48.

AlTi Global Inc. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,588 shares of the financial services provider's stock after selling 2,784 shares during the period. AlTi Global Inc.'s holdings in JPMorgan Chase & Co. were worth $7,749,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Measured Risk Portfolios Inc. bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $54,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM traded down $9.04 during midday trading on Friday, hitting $294.79. 9,831,520 shares of the company's stock were exchanged, compared to its average volume of 6,437,430. The company's 50 day moving average price is $293.16 and its 200 day moving average price is $266.12. 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 firm has a market capitalization 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. has a 12 month low of $200.61 and a 12 month high of $305.15.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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 firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the business posted $6.12 earnings per share. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JPM. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Bank of America lifted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $291.67.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.