Crescent Grove Advisors LLC Cuts Stock Position in JPMorgan Chase & Co. $JPM

Crescent Grove Advisors LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 45.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,763 shares of the financial services provider's stock after selling 3,176 shares during the quarter. Crescent Grove Advisors LLC's holdings in JPMorgan Chase & Co. were worth $1,232,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE increased its position in JPMorgan Chase & Co. by 15.8% during the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock worth $19,314,681,000 after purchasing an additional 8,941,351 shares during the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $11,396,496,000. Bank of New York Mellon Corp increased its position in shares of JPMorgan Chase & Co. by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock valued at $7,084,339,000 after purchasing an additional 540,362 shares during the last quarter. Legal & General Group Plc raised its stake in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock valued at $6,128,484,000 after buying an additional 110,586 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of JPMorgan Chase & Co. by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider's stock worth $5,578,788,000 after acquiring an additional 607,288 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Robin Leopold sold 2,500 shares of the firm's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the transaction, the insider owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,467 shares of company stock valued at $3,593,651 over the last 90 days. 0.41% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $350.32 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The company has a market cap of $931.22 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.47 and a beta of 0.98. The business has a fifty day simple moving average of $352.51 and a 200-day simple moving average of $322.66. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same period in the prior year, the firm posted $4.96 EPS. The company's revenue was up 27.7% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JPM shares. Jefferies Financial Group set a $350.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Royal Bank Of Canada lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $359.96.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan’s private bank is repositioning to capture wealth created by artificial intelligence. The strategy could support long-term growth in fee-rich asset and wealth management services, as well as additional lending relationships. JPMorgan's Private Bank Reset Targets the Next Wave of AI Wealth
• Positive Sentiment: JPMorgan’s private-bank leadership transition, involving longtime executives overseeing its approximately $2.4 trillion U.S. private-bank business, may provide continuity for a strategically important growth division. JPMorgan Taps Longtime Executives to Run $2.4 Trillion U.S. Private Bank
• Neutral Sentiment: JPMorgan research continued to highlight strong artificial-intelligence demand, including potential demand for ASML’s extreme-ultraviolet chipmaking machines. The commentary supports the bank’s capital-markets and advisory outlook but does not directly change JPM’s fundamentals. ASML Eyes 110+ EUV Machines as JPM Stresses Strong AI Demand
• Neutral Sentiment: JPMorgan’s report on the coming succession wave among small businesses could create future opportunities for commercial banking, lending, and advisory services, although it is not an immediate earnings catalyst. Top Bank Warns 12 Million Small Businesses Could Change Hands
• Negative Sentiment: Oil prices moved above $100 after damage to a Saudi pipeline, raising concerns about inflation, interest rates, and economic growth. Those risks can weigh on bank valuations and likely contributed to the broader market weakness affecting JPMorgan. Oil over $100 Has JPMorgan Stock-Market Strategists Concerned
• Negative Sentiment: Two smaller institutional investors reported reducing their JPMorgan holdings in second-quarter regulatory filings. The sales are dated and appear unlikely to be a major fundamental driver, but they add modest selling-pressure sentiment. Focused Alpha Reduces JPMorgan Holdings

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.

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