Hoertkorn Richard Charles Trims Position in JPMorgan Chase & Co. $JPM

Key Points

• Hoertkorn Richard Charles reduced its stake in JPMorgan Chase & Co. by 1.7%, now holding 52,412 shares valued at approximately $15.2 million.
• Insider selling was noted as Director Linda Bammann sold 9,500 shares for about $2.83 million, reducing her ownership by 10.36%.
• The stock has seen a 52-week price range between $202.16 and $307.55, with a current value of $306.88.

Hoertkorn Richard Charles trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,412 shares of the financial services provider's stock after selling 885 shares during the quarter. JPMorgan Chase & Co. makes up 6.4% of Hoertkorn Richard Charles' investment portfolio, making the stock its 5th largest position. Hoertkorn Richard Charles' holdings in JPMorgan Chase & Co. were worth $15,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Florida Financial Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after buying an additional 3,792 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $471,000. Crown Wealth Group LLC lifted its holdings in JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after buying an additional 222 shares during the period. Mosaic Financial Group LLC lifted its holdings in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after buying an additional 78 shares during the period. Finally, Morse Asset Management Inc lifted its holdings in JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after buying an additional 420 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $306.88 on Monday. The stock has a 50-day simple moving average of $293.94 and a two-hundred day simple moving average of $267.44. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $307.55. 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 firm has a market capitalization of $843.84 billion, a PE ratio of 15.75, a P/E/G ratio of 2.04 and a beta of 1.13.

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 earnings per share (EPS) for the quarter, beating 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 business 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 company posted $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. 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. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average target price of $291.67.

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.

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