Northern Trust Corp Trims Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Northern Trust Corp reduced its position in JPMorgan Chase & Co. by 2.1%, now holding 33,118,098 shares, making it the 9th largest holding in their portfolio.
• JPMorgan reported a quarterly EPS of $4.96, exceeding analysts' expectations, while quarterly revenue was down 10.5% year-over-year.
• Analysts have set varying price targets for JPMorgan, with a consensus target price of $288.68 and an average rating of "Moderate Buy".

Northern Trust Corp lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,118,098 shares of the financial services provider's stock after selling 727,578 shares during the quarter. JPMorgan Chase & Co. comprises about 1.2% of Northern Trust Corp's holdings, making the stock its 9th largest position. Northern Trust Corp owned 1.19% of JPMorgan Chase & Co. worth $8,123,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter worth $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the first quarter valued at about $30,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Measured Risk Portfolios Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $54,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on JPM. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Morgan Stanley raised 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. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.4%

NYSE JPM traded down $1.1610 during trading hours on Tuesday, hitting $290.3690. 6,028,918 shares of the company traded hands, compared to its average volume of 7,571,084. The business's 50-day moving average is $287.35 and its 200-day moving average is $263.91. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. 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 has a market capitalization of $798.44 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.94 and a beta of 1.11.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $6.12 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

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.