Brandywine Global Investment Management LLC Lowers Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Brandywine Global Investment Management LLC reduced its stake in JPMorgan Chase & Co. by 24.6%, now holding approximately $333.91 million worth of shares, making it the firm's second-largest holding.
• Insider sales have been reported, including those of General Counsel Stacey Friedman and COO Jennifer Piepszak, who sold 6,608 and 6,128 shares, respectively, resulting in significant decreases in their ownership.
• Analysts have mixed views on JPMorgan Chase & Co., with ratings ranging from "sell" to "strong buy," while the stock recently opened at $290.48 and has a consensus price target of $288.68.

Brandywine Global Investment Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 24.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,361,235 shares of the financial services provider's stock after selling 443,647 shares during the period. JPMorgan Chase & Co. makes up 2.4% of Brandywine Global Investment Management LLC's portfolio, making the stock its 2nd biggest position. Brandywine Global Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $333,911,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. High Falls Advisors Inc raised its holdings in JPMorgan Chase & Co. by 0.9% during the 1st quarter. High Falls Advisors Inc now owns 6,808 shares of the financial services provider's stock worth $1,670,000 after buying an additional 64 shares during the period. Aberdeen Group plc boosted its holdings in shares of JPMorgan Chase & Co. by 15.7% in the first quarter. Aberdeen Group plc now owns 2,344,483 shares of the financial services provider's stock valued at $568,174,000 after buying an additional 318,986 shares during the period. Providence Capital Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.0% in the first quarter. Providence Capital Advisors LLC now owns 43,235 shares of the financial services provider's stock valued at $10,606,000 after buying an additional 419 shares during the period. Fox Run Management L.L.C. increased its position in shares of JPMorgan Chase & Co. by 265.2% during the first quarter. Fox Run Management L.L.C. now owns 5,390 shares of the financial services provider's stock worth $1,322,000 after acquiring an additional 3,914 shares in the last quarter. Finally, KLCM Advisors Inc. raised its holdings in shares of JPMorgan Chase & Co. by 8.3% during the first quarter. KLCM Advisors Inc. now owns 15,834 shares of the financial services provider's stock worth $3,884,000 after acquiring an additional 1,211 shares during the period. 71.55% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on JPM. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, Truist Financial lifted their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded up $1.2850 during midday trading on Wednesday, reaching $291.9450. The stock had a trading volume of 4,109,579 shares, compared to its average volume of 9,845,038. The firm has a 50 day simple moving average of $287.35 and a 200-day simple moving average of $263.91. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29. The firm has a market cap of $802.78 billion, a PE ratio of 14.98, a P/E/G ratio of 1.94 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

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 (EPS) for the quarter, beating 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 analysts' expectations of $43.76 billion. During the same period in the prior year, the firm earned $6.12 EPS. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS 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.