Harvest Portfolios Group Inc. Sells 6,408 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Harvest Portfolios Group Inc. reduced its stake in JPMorgan Chase & Co. by 6.1%, selling 6,408 shares, leaving them with a total of 97,904 shares valued at approximately $24 million.
• Insider transactions include COO Jennifer Piepszak selling 6,128 shares for around $1.6 million, which decreased her position by 8.94%.
• Analysts have upgraded their price targets for JPMorgan Chase & Co., with Bank of America raising its target from $330 to $340, reflecting a generally positive outlook on the company's performance.

Harvest Portfolios Group Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,904 shares of the financial services provider's stock after selling 6,408 shares during the period. Harvest Portfolios Group Inc.'s holdings in JPMorgan Chase & Co. were worth $24,016,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $30,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $33,000. Measured Risk Portfolios Inc. bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $44,000. Finally, Minot DeBlois Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $54,000. 71.55% of the stock is owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on JPM. Bank of America lifted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Truist Financial lifted their price target 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. Finally, Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Down 0.4%

JPM opened at $294.92 on Tuesday. The company has a market cap of $810.96 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.97 and a beta of 1.11. The business's 50-day moving average price is $289.41 and its 200-day moving average price is $264.46. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the business earned $6.12 earnings per share. The company's quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current 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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