Flputnam Investment Management Co. Has $81.97 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Flputnam Investment Management Co. reduced its stake in JPMorgan Chase & Co. by 1.4% during the 1st quarter, holding 334,143 shares worth approximately $81.97 million.
• Analysts have varying ratings for JPMorgan Chase, with a consensus rating of "Moderate Buy" and a target price of $288.68.
• Insider activity shows COO Jennifer Piepszak sold 6,128 shares at an average price of $262.47, reducing her position by 8.94%.

Flputnam Investment Management Co. reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334,143 shares of the financial services provider's stock after selling 4,879 shares during the period. JPMorgan Chase & Co. comprises about 1.5% of Flputnam Investment Management Co.'s investment portfolio, making the stock its 12th largest holding. Flputnam Investment Management Co.'s holdings in JPMorgan Chase & Co. were worth $81,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Measured Risk Portfolios Inc. acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $54,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on JPM. TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective on the stock. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.1%

Shares of NYSE:JPM opened at $301.46 on Friday. The company has a market capitalization of $828.94 billion, a P/E ratio of 15.47, a P/E/G ratio of 2.00 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $302.95. 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's 50 day simple moving average is $291.59 and its 200 day simple moving average is $265.26.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the business posted $6.12 earnings per share. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

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.

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