Circle Wealth Management LLC Reduces Position in JPMorgan Chase & Co. $JPM

Key Points

• Circle Wealth Management LLC reduced its stake in JPMorgan Chase & Co. by 1.5%, now owning 73,445 shares valued at $18,016,000, making it the 21st largest holding in their portfolio.
• Other large investors, including GAMMA Investing LLC and Nuveen LLC, significantly increased their positions in JPMorgan Chase, with GAMMA raising its holdings by nearly 25,861.9% to over 23 million shares.
• JPMorgan reported $4.96 earnings per share for the last quarter, exceeding estimates, despite a year-over-year revenue decline of 10.5%, down from $44.91 billion.

Circle Wealth Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,445 shares of the financial services provider's stock after selling 1,130 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.4% of Circle Wealth Management LLC's investment portfolio, making the stock its 21st biggest holding. Circle Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $18,016,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in JPM. GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at $3,972,807,000. Northern Trust Corp boosted its holdings in JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.4%

Shares of JPMorgan Chase & Co. stock opened at $291.0580 on Friday. The firm has a 50-day simple moving average of $288.29 and a two-hundred day simple moving average of $264.27. The company has a market cap of $800.34 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. 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 issued its quarterly earnings data 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. The business 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 company's revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.12 earnings per share. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. HSBC reaffirmed a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.