JPMorgan Chase & Co. $JPM Position Cut by Mirabaud & Cie SA

Key Points

• Mirabaud & Cie SA has reduced its position in JPMorgan Chase & Co. by 5.6%, now holding 31,345 shares valued at approximately $9.08 million.
• JPMorgan Chase reported $4.96 earnings per share for the most recent quarter, exceeding analysts' expectations of $4.48, but experienced a 10.5% decline in quarterly revenue year-over-year.
• The stock currently has a consensus rating of "Moderate Buy", with an average price target of $291.67 according to market analysts.

Mirabaud & Cie SA reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,345 shares of the financial services provider's stock after selling 1,861 shares during the quarter. JPMorgan Chase & Co. comprises 2.9% of Mirabaud & Cie SA's portfolio, making the stock its 12th largest holding. Mirabaud & Cie SA's holdings in JPMorgan Chase & Co. were worth $9,087,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC boosted its stake in JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at $471,000. Crown Wealth Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after acquiring an additional 222 shares in the last quarter. Mosaic Financial Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock worth $2,280,000 after acquiring an additional 78 shares in the last quarter. Finally, Morse Asset Management Inc boosted its stake in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after acquiring an additional 420 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $306.88 on Monday. 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 1 year low of $202.16 and a 1 year high of $307.55. The business has a fifty day simple moving average of $293.94 and a 200 day simple moving average of $267.44. The firm has a market cap of $843.84 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 2.04 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the company earned $6.12 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JPM. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. HSBC reissued a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.

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