Gulf International Bank UK Ltd Sells 62,005 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Gulf International Bank UK Ltd reduced its holdings in JPMorgan Chase & Co. by 27.7%, resulting in ownership of 161,537 shares valued at approximately $39.6 million.
• Several hedge funds, including GAMMA Investing LLC, have significantly increased their positions in JPMorgan Chase & Co., with GAMMA's holdings now at over 23.5 million shares, valued at $5.78 billion.
• JPMorgan Chase & Co. reported $4.96 EPS for the last quarter, exceeding estimates, and declared a quarterly dividend of $1.40 per share, translating to a 1.9% yield.

Gulf International Bank UK Ltd trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 27.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,537 shares of the financial services provider's stock after selling 62,005 shares during the period. JPMorgan Chase & Co. comprises about 1.4% of Gulf International Bank UK Ltd's investment portfolio, making the stock its 11th biggest position. Gulf International Bank UK Ltd's holdings in JPMorgan Chase & Co. were worth $39,625,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. National Pension Service grew its position in shares of JPMorgan Chase & Co. by 2.4% during the first quarter. National Pension Service now owns 5,199,183 shares of the financial services provider's stock worth $1,275,360,000 after purchasing an additional 121,786 shares in the last quarter. Klingman & Associates LLC boosted its stake in JPMorgan Chase & Co. by 6.9% in the 1st quarter. Klingman & Associates LLC now owns 19,347 shares of the financial services provider's stock worth $4,746,000 after purchasing an additional 1,248 shares during the period. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co grew its holdings in JPMorgan Chase & Co. by 66.9% during the 1st quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co now owns 17,714 shares of the financial services provider's stock valued at $4,345,000 after buying an additional 7,100 shares in the last quarter. Dagco Inc. raised its position in shares of JPMorgan Chase & Co. by 7.6% during the first quarter. Dagco Inc. now owns 14,121 shares of the financial services provider's stock valued at $3,464,000 after buying an additional 994 shares during the last quarter. Finally, LGT Group Foundation raised its position in shares of JPMorgan Chase & Co. by 41.9% during the first quarter. LGT Group Foundation now owns 746,340 shares of the financial services provider's stock valued at $183,077,000 after buying an additional 220,539 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on JPM shares. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 target price for the company. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Finally, Truist Financial lifted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock 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 issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.5%

JPM stock traded down $1.42 during mid-day trading on Tuesday, reaching $290.11. 3,341,854 shares of the stock traded hands, compared to its average volume of 9,863,949. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The business has a 50-day moving average price of $286.92 and a two-hundred day moving average price of $263.72. The stock has a market capitalization of $797.73 billion, a PE ratio of 14.89, a PEG ratio of 1.93 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the prior year, the company posted $6.12 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. Equities research 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.