JPMorgan Chase & Co. $JPM Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. has reduced its stake in JPMorgan Chase & Co. by 4.1%, now holding 646,036 shares valued at approximately $158 million, making it the 14th largest position in its portfolio.
• Several large investors have increased their stakes in JPMorgan Chase, with notable raises from Northern Trust Corp (15.4%) and GAMMA Investing LLC (25,861.9%) in the first quarter.
• The stock recently opened at approximately $295.99 and has a market cap of $813.90 billion, with a current consensus price target of $288.68 among analysts.

Corebridge Financial Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 646,036 shares of the financial services provider's stock after selling 27,738 shares during the period. JPMorgan Chase & Co. comprises 0.9% of Corebridge Financial Inc.'s portfolio, making the stock its 14th largest position. Corebridge Financial Inc.'s holdings in JPMorgan Chase & Co. were worth $158,473,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Wimmer Associates 1 LLC boosted its holdings in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after purchasing an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after purchasing an additional 40 shares during the last quarter. First Command Advisory Services Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after acquiring an additional 40 shares during the last quarter. Black Swift Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.7% during the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after acquiring an additional 40 shares during the last quarter. Finally, Beacon Bridge Wealth Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.8% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Trading Up 0.3%

JPM stock traded up $0.95 during mid-day trading on Wednesday, reaching $299.52. The company had a trading volume of 6,052,422 shares, compared to its average volume of 7,618,912. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $823.59 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The firm has a 50 day moving average of $290.00 and a 200 day moving average of $264.70. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 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 during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.47% of the company's stock.

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.