Howe & Rusling Inc. Has $45.18 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Howe & Rusling Inc. has reduced its stake in JPMorgan Chase & Co. by 8% to 184,162 shares, which are now valued at approximately $45.18 million, making it the firm's largest holding.
• Insider activity was noted as Director Linda Bammann sold 9,500 shares for about $2.83 million, reducing her ownership by 10.36%.
• JPMorgan Chase & Co. has received varying ratings from analysts, with a current average price target set at $291.67 and a consensus rating of "Moderate Buy."

Howe & Rusling Inc. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,162 shares of the financial services provider's stock after selling 15,945 shares during the quarter. JPMorgan Chase & Co. comprises 3.8% of Howe & Rusling Inc.'s holdings, making the stock its biggest position. Howe & Rusling Inc.'s holdings in JPMorgan Chase & Co. were worth $45,175,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Wimmer Associates 1 LLC increased its position in JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after buying an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after buying an additional 40 shares during the last quarter. First Command Advisory Services Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after buying an additional 40 shares during the last quarter. Black Swift Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after buying an additional 40 shares during the last quarter. Finally, Beacon Bridge Wealth Partners LLC boosted its position in JPMorgan Chase & Co. by 1.8% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after purchasing an additional 40 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In other 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 value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on JPM. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Truist Financial raised their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. Finally, Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $291.67.

JPMorgan Chase & Co. Trading Up 1.6%

Shares of JPM opened at $305.39 on Friday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $305.73. 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 firm has a market capitalization of $839.75 billion, a P/E ratio of 15.67, a P/E/G ratio of 2.00 and a beta of 1.13. The firm has a 50-day moving average price of $293.72 and a 200 day moving average price of $266.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating 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 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 revenue for the quarter was down 10.5% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current 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.

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