JPMorgan Chase & Co. $JPM Shares Sold by 1248 Management LLC

Key Points

• 1248 Management LLC reduced its stake in JPMorgan Chase & Co. by 24.4%, making it the fund's 5th largest position, valued at approximately $8.13 million.
• Major investors such as Focus Partners Advisor Solutions LLC and Ameriflex Group Inc. have recently increased their stakes in JPMorgan, indicating continued interest in the company.
• JPMorgan Chase & Co. reported strong earnings with an EPS of $4.96 for the last quarter, beating the consensus estimate, though its year-over-year revenue saw a decline of 10.5%.

1248 Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 24.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,150 shares of the financial services provider's stock after selling 10,702 shares during the quarter. JPMorgan Chase & Co. comprises approximately 4.5% of 1248 Management LLC's portfolio, making the stock its 5th biggest holding. 1248 Management LLC's holdings in JPMorgan Chase & Co. were worth $8,132,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $28,000. University of Illinois Foundation purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $30,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $33,000. Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $54,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Up 1.4%

Shares of JPMorgan Chase & Co. stock traded up $4.32 during trading on Thursday, hitting $303.83. 4,772,531 shares of the stock traded hands, compared to its average volume of 9,664,684. The firm has a market cap of $835.45 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. 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 52-week low of $200.61 and a 52-week high of $304.43. The stock's fifty day simple moving average is $292.71 and its 200 day simple moving average is $265.82.

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. The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $6.12 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JPM shares. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a report on Friday, June 27th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Bank of America boosted 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. Finally, Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $291.67.

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.