Edgar Lomax Co. VA Sells 31,080 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Edgar Lomax Co. VA has reduced its holdings in JPMorgan Chase & Co. by 23.6%, now owning 100,785 shares valued at approximately $24.7 million, making it the 25th largest position in their portfolio.
• COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. for about $1.6 million, resulting in an 8.94% decrease in her ownership.
• JPMorgan recently reported an earnings per share of $4.96, exceeding analyst expectations, but saw a 10.5% decline in revenue compared to the same quarter last year.

Edgar Lomax Co. VA decreased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 23.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,785 shares of the financial services provider's stock after selling 31,080 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.5% of Edgar Lomax Co. VA's holdings, making the stock its 25th largest position. Edgar Lomax Co. VA's holdings in JPMorgan Chase & Co. were worth $24,723,000 as of its most recent SEC filing.

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

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded down $1.1820 during trading on Thursday, reaching $291.0580. 6,622,726 shares of the stock were exchanged, compared to its average volume of 7,551,326. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. The firm has a market cap of $800.34 billion, a PE ratio of 14.93, a PEG ratio of 1.94 and a beta of 1.11. The stock has a 50-day moving average price of $288.29 and a 200-day moving average price of $264.27. 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. (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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the previous year, the company posted $6.12 earnings per share. The business's revenue was down 10.5% on a year-over-year basis. Research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent analyst reports. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research note on Friday, June 27th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. One investment 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company's stock.

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.