First Manhattan CO. LLC. Has $74.15 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• First Manhattan CO. LLC. increased its holdings in JPMorgan Chase & Co. by 31.4% during the first quarter, now owning 302,296 shares valued at approximately $74.15 million.
• Several institutional investors also adjusted their positions in JPMorgan Chase, with 71.55% of the company's stock now owned by them.
• JPMorgan Chase recently reported earnings of $4.96 per share, exceeding expectations, but its revenue dropped 10.5% year-over-year to $44.91 billion.

First Manhattan CO. LLC. lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 31.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 302,296 shares of the financial services provider's stock after buying an additional 72,265 shares during the period. First Manhattan CO. LLC.'s holdings in JPMorgan Chase & Co. were worth $74,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its position in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Nuveen LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth approximately $3,972,807,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $454,042,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Truist Financial raised their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $291.67.

Insider Buying and Selling at JPMorgan Chase & Co.

In other 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 transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded up $4.32 during midday trading on Thursday, reaching $303.83. 6,549,895 shares of the company traded hands, compared to its average volume of 9,666,178. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $304.43. The firm has a market capitalization of $835.45 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth 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 company has a fifty day moving average price of $292.71 and a 200 day moving average price of $265.82.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the business earned $6.12 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

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.