Great Lakes Advisors LLC Sells 3,522 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Great Lakes Advisors LLC sold 3,522 shares of JPMorgan Chase & Co., reducing its stake by 0.3%, but it remains the firm's largest position valued at approximately $297.6 million.
• JPMorgan Chase's stock currently holds an average rating of "Moderate Buy" from analysts, with a target price ranging from $291.67 to $305.00.
• Director Linda Bammann sold 9,500 shares of JPMorgan Chase for over $2.8 million, decreasing her ownership by 10.36%.

Great Lakes Advisors LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,213,485 shares of the financial services provider's stock after selling 3,522 shares during the quarter. JPMorgan Chase & Co. accounts for 2.7% of Great Lakes Advisors LLC's investment portfolio, making the stock its biggest position. Great Lakes Advisors LLC's holdings in JPMorgan Chase & Co. were worth $297,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Strait & Sound Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 2.3% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 9,452 shares of the financial services provider's stock worth $2,319,000 after acquiring an additional 217 shares during the period. Caxton Associates LLP acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth $72,054,000. Sciencast Management LP purchased a new position in shares of JPMorgan Chase & Co. in the first quarter valued at $2,701,000. Fred Alger Management LLC grew its holdings in JPMorgan Chase & Co. by 17.7% during the 1st quarter. Fred Alger Management LLC now owns 134,874 shares of the financial services provider's stock valued at $33,085,000 after purchasing an additional 20,241 shares in the last quarter. Finally, Challenger Wealth Management increased its stake in JPMorgan Chase & Co. by 13.4% during the 1st quarter. Challenger Wealth Management now owns 4,463 shares of the financial services provider's stock worth $1,095,000 after buying an additional 528 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JPM. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. One research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $291.67.

JPMorgan Chase & Co. Stock Performance

JPM traded up $2.86 during trading on Wednesday, reaching $300.71. 7,786,372 shares of the company were exchanged, compared to its average volume of 6,695,318. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $826.89 billion, a P/E ratio of 15.51, a PEG ratio of 1.98 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $201.83 and a 52 week high of $305.15. The firm has a 50 day moving average of $293.36 and a 200 day moving average of $266.44.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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 company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the previous year, the firm posted $6.12 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Company 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.