InvesTrust Sells 19,775 Shares of JPMorgan Chase & Co. $JPM

Key Points

• InvesTrust significantly reduced its stake in JPMorgan Chase & Co. by 47.6% during the second quarter, reducing its holdings to 21,739 shares, which now constitute about 2.4% of its investment portfolio.
• Analysts have varied opinions on JPM with price targets ranging from $298.00 to $340.00, reflecting a consensus of a Moderate Buy rating among analysts.
• Director Linda Bammann sold 9,500 shares of JPMorgan Chase, reducing her position by 10.36% and noting a total transaction value of approximately $2.83 million.

InvesTrust reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 47.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,739 shares of the financial services provider's stock after selling 19,775 shares during the quarter. JPMorgan Chase & Co. accounts for 2.4% of InvesTrust's holdings, making the stock its 9th largest position. InvesTrust's holdings in JPMorgan Chase & Co. were worth $6,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $30,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $33,000. Capital A Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $64,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $72,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded up $1.32 during trading hours on Friday, hitting $306.88. 6,845,781 shares of the stock were exchanged, compared to its average volume of 6,719,976. 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 stock's 50-day moving average price is $293.94 and its two-hundred day moving average price is $267.44. The company has a market cap of $843.84 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $307.55.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its 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. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $6.12 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on JPM shares. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $291.67.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on 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 completion of the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

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.