Gamco Investors INC. ET AL Trims Stake in JPMorgan Chase & Co. $JPM

Key Points

• Gamco Investors INC. ET AL reduced its stake in JPMorgan Chase & Co. by 4.9%, selling 10,618 shares, leaving them with 206,737 shares valued at approximately $50.7 million.
• In the first quarter, several institutional investors, including MJT & Associates and University of Illinois Foundation, initiated new stakes in JPMorgan Chase, indicating ongoing interest in the bank.
• JPMorgan Chase recently exceeded earnings expectations with reported earnings per share of $4.96, surpassing estimates by $0.48, although revenue was down by 10.5% year-over-year.

Gamco Investors INC. ET AL decreased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 206,737 shares of the financial services provider's stock after selling 10,618 shares during the quarter. Gamco Investors INC. ET AL's holdings in JPMorgan Chase & Co. were worth $50,713,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Northern Trust Corp boosted its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after buying an additional 454,226 shares during the period. GAMMA Investing LLC lifted its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after buying an additional 23,465,278 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after buying an additional 548,853 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of JPMorgan Chase & Co. by 16.3% in the 4th 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 buying an additional 2,465,572 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was 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 directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a report on Friday, June 27th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. HSBC reiterated a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Up 0.1%

JPMorgan Chase & Co. stock traded up $0.39 during midday trading on Friday, reaching $301.46. The company's stock had a trading volume of 6,788,107 shares, compared to its average volume of 9,731,994. The stock's 50-day simple moving average is $291.05 and its 200-day simple moving average is $265.15. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $302.95. The stock has a market capitalization of $828.94 billion, a P/E ratio of 15.47, a PEG ratio of 1.99 and a beta of 1.11.

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 EPS for the quarter, beating 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 company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the business posted $6.12 earnings per share. The firm's revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current 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.