DnB Asset Management AS Lowers Holdings in JPMorgan Chase & Co. $JPM

Key Points

• DnB Asset Management AS reduced its stake in JPMorgan Chase & Co. by 24.9%, selling 251,525 shares and holding a total of 756,894 shares worth $185.67 million.
• Florida Financial Advisors LLC significantly increased its stake in JPMorgan by 62.5%, while other hedge funds have also adjusted their holdings, collectively resulting in institutional investors owning 71.55% of the company.
• The stock has a consensus rating of "Moderate Buy" from analysts, with target prices ranging up to $305 and a current trading price of around $298.99.

DnB Asset Management AS decreased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 24.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 756,894 shares of the financial services provider's stock after selling 251,525 shares during the quarter. JPMorgan Chase & Co. comprises 0.9% of DnB Asset Management AS's portfolio, making the stock its 20th biggest holding. DnB Asset Management AS's holdings in JPMorgan Chase & Co. were worth $185,666,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth about $33,000. Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $54,000. Institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JPM. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $291.67.

JPMorgan Chase & Co. Stock Down 3.0%

Shares of JPM traded down $9.04 during trading hours on Friday, hitting $294.79. The company had a trading volume of 9,831,520 shares, compared to its average volume of 6,437,430. The company has a market capitalization of $810.59 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $305.15. The company's fifty day moving average price is $293.16 and its two-hundred day moving average price is $266.02.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly 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. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the company earned $6.12 earnings per share. The business's revenue for the quarter was down 10.5% on a year-over-year basis. 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 related news, Director Linda Bammann sold 9,500 shares of the firm's 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 owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by company insiders.

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.