Atalanta Sosnoff Capital LLC Raises Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Atalanta Sosnoff Capital LLC increased its stake in JPMorgan Chase & Co. by 10.5%, owning a total of 688,743 shares valued at approximately $168.9 million, making it the 7th largest holding in their portfolio.
• Insider activity was noted as Director Linda Bammann sold 9,500 shares, decreasing her ownership by 10.36%, with an average sale price of $297.94 per share.
• JPMorgan's stock was down 0.7%, with a current market capitalization of $823.19 billion and a 52-week trading range between $200.61 and $302.95.

Atalanta Sosnoff Capital LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 688,743 shares of the financial services provider's stock after buying an additional 65,664 shares during the period. JPMorgan Chase & Co. makes up 4.0% of Atalanta Sosnoff Capital LLC's portfolio, making the stock its 7th biggest position. Atalanta Sosnoff Capital LLC's holdings in JPMorgan Chase & Co. were worth $168,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter worth approximately $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $33,000. Measured Risk Portfolios Inc. bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $54,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on JPM shares. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $291.67.

JPMorgan Chase & Co. Stock Down 3.0%

JPMorgan Chase & Co. stock traded down $9.04 during trading hours on Friday, hitting $294.79. The company had a trading volume of 9,831,520 shares, compared to its average volume of 6,437,430. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $305.15. The firm's fifty day moving average is $293.16 and its 200-day moving average is $266.12. The firm has a market capitalization of $810.59 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the company posted $6.12 earnings per share. The business's quarterly revenue was down 10.5% compared to the same quarter last year. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company's stock, 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 available through the SEC website. Corporate insiders own 0.47% of the company's stock.

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.