Concentric Capital Strategies LP Sells 27,467 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Concentric Capital Strategies LP significantly reduced its stake in JPMorgan Chase & Co. by 67.3%, selling 27,467 shares, leaving it with 13,337 shares valued at approximately $3.27 million.
• Various hedge funds have recently made investments in JPMorgan, with institutional investors now holding 71.55% of the stock.
• Analysts have varying opinions on JPMorgan's stock, giving it a consensus rating of "Moderate Buy" and an average target price of $291.67.

Concentric Capital Strategies LP lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 67.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,337 shares of the financial services provider's stock after selling 27,467 shares during the quarter. Concentric Capital Strategies LP's holdings in JPMorgan Chase & Co. were worth $3,272,000 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 stake in JPMorgan Chase & Co. during the 1st quarter valued at $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $33,000. Measured Risk Portfolios Inc. bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $54,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM traded down $9.04 during midday trading on Friday, hitting $294.79. The stock had a trading volume of 9,831,520 shares, compared to its average volume of 6,437,430. The company has a market cap of $810.59 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The business has a fifty day moving average of $293.16 and a 200 day moving average of $266.02. 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. has a 1 year low of $200.61 and a 1 year high of $305.15.

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, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.12 earnings per share. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on JPM. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective on the stock. Finally, Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average price target 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.