Ancora Advisors LLC Has $75.22 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Ancora Advisors LLC reduced its stake in JPMorgan Chase & Co. by 0.5%, now holding 306,652 shares valued at approximately $75.2 million.
• During the 1st quarter, GAMMA Investing LLC made a significant purchase, increasing its holdings in JPMorgan Chase by 25,861.9%, now owning over 23.5 million shares.
• JPMorgan's last quarterly earnings report showed an EPS of $4.96, exceeding analysts' expectations, though revenue fell 10.5% compared to the same quarter last year.

Ancora Advisors LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,652 shares of the financial services provider's stock after selling 1,544 shares during the quarter. JPMorgan Chase & Co. accounts for 1.7% of Ancora Advisors LLC's portfolio, making the stock its 11th largest position. Ancora Advisors LLC's holdings in JPMorgan Chase & Co. were worth $75,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at about $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at about $33,000. Measured Risk Portfolios Inc. purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $54,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 3.0%

NYSE:JPM traded down $9.04 during mid-day trading on Friday, reaching $294.79. The stock had a trading volume of 9,831,520 shares, compared to its average volume of 6,437,430. The business's 50 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 stock has a market cap of $810.59 billion, a P/E ratio of 15.12, a PEG ratio of 2.02 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 earnings per share. The firm's revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on JPM shares. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Truist Financial upped their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company 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.