JPMorgan Chase & Co. $JPM Shares Sold by Guggenheim Capital LLC

Key Points

• Guggenheim Capital LLC reduced its stake in JPMorgan Chase & Co. by 9.8%, selling 28,187 shares and now holding a total of 260,765 shares, valued at approximately $63.97 million.
• Other institutional investors, such as GAMMA Investing LLC and Nuveen LLC, have significantly increased their holdings in JPMorgan Chase, indicating growing confidence in the company's prospects.
• JPMorgan's shares are currently priced at $298.60 with a market cap of $821.07 billion, and the company reported $4.96 EPS in its latest quarterly earnings, exceeding analyst expectations.

Guggenheim Capital LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,765 shares of the financial services provider's stock after selling 28,187 shares during the period. JPMorgan Chase & Co. comprises 0.6% of Guggenheim Capital LLC's portfolio, making the stock its 23rd biggest position. Guggenheim Capital LLC's holdings in JPMorgan Chase & Co. were worth $63,966,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wimmer Associates 1 LLC raised its stake in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after purchasing an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 0.3% in the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after purchasing an additional 40 shares in the last quarter. First Command Advisory Services Inc. raised its stake in shares of JPMorgan Chase & Co. by 0.4% in the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after purchasing an additional 40 shares in the last quarter. Black Swift Group LLC raised its stake in shares of JPMorgan Chase & Co. by 0.7% in the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after purchasing an additional 40 shares in the last quarter. Finally, Beacon Bridge Wealth Partners LLC raised its stake in shares of JPMorgan Chase & Co. by 1.8% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 40 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded up $0.39 during trading hours on Friday, hitting $301.46. The stock had a trading volume of 6,790,292 shares, compared to its average volume of 7,101,695. The stock's fifty day simple moving average is $291.59 and its 200 day simple moving average is $265.33. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $302.95. The firm has a market capitalization of $828.94 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 2.00 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

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 EPS for the quarter, beating 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 company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the business earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on JPM shares. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $288.68.

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.