JPMorgan Chase & Co. $JPM is TAM Capital Management Inc.'s 2nd Largest Position

Key Points

• TAM Capital Management Inc. has reduced its holdings in JPMorgan Chase & Co. by 28.8%, owning 120,326 shares, which represent 24.8% of its investment portfolio, making it the firm's 2nd largest position.
• The company's stock received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $291.67, reflecting various upgrades and downgrades.
• JPMorgan Chase reported earnings of $4.96 per share, exceeding expectations, but its revenue was down 10.5% year-over-year compared to the same quarter last year.

TAM Capital Management Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 28.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,326 shares of the financial services provider's stock after selling 48,691 shares during the period. JPMorgan Chase & Co. comprises approximately 24.8% of TAM Capital Management Inc.'s investment portfolio, making the stock its 2nd biggest position. TAM Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $29,516,000 as of its most recent filing with the SEC.

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

JPMorgan Chase & Co. Stock Up 1.0%

Shares of JPMorgan Chase & Co. stock traded up $2.86 on Wednesday, reaching $300.71. The stock had a trading volume of 7,516,134 shares, compared to its average volume of 9,647,993. The company has a 50 day moving average price of $293.36 and a 200 day moving average price of $266.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 1 year low of $201.83 and a 1 year high of $305.15. The stock has a market capitalization of $826.89 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.95 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.12 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction 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 directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JPM. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Finally, HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.