JPMorgan Chase & Co. $JPM is Cyrus J. Lawrence LLC's 10th Largest Position

Key Points

• Cyrus J. Lawrence LLC significantly reduced its stake in JPMorgan Chase & Co. by 94%, now holding only 3,456 shares valued at approximately $847,000.
• Despite this, other institutional investors have shown increased interest in JPMorgan, with several expanding their positions in the stock during the same period.
• JPMorgan Chase's recent quarterly earnings exceeded analyst expectations, reporting $4.96 earnings per share and revenues of $44.91 billion, although revenue was down 10.5% year-over-year.

Cyrus J. Lawrence LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 94.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,456 shares of the financial services provider's stock after selling 53,892 shares during the period. JPMorgan Chase & Co. comprises about 3.2% of Cyrus J. Lawrence LLC's portfolio, making the stock its 10th largest position. Cyrus J. Lawrence LLC's holdings in JPMorgan Chase & Co. were worth $847,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the first quarter worth about $33,000. Measured Risk Portfolios Inc. bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $44,000. Finally, Minot DeBlois Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth $54,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded down $2.05 during trading hours on Tuesday, hitting $299.37. The company's stock had a trading volume of 7,218,937 shares, compared to its average volume of 6,508,681. The company has a market cap of $823.19 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 2.00 and a beta of 1.13. 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 business has a 50 day simple moving average of $292.05 and a two-hundred day simple moving average of $265.36. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $302.95.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm 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% on a year-over-year basis. During the same quarter last year, the company earned $6.12 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, 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. One equities 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction 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 transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. 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 completion of the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company's stock.

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.