Federation des caisses Desjardins du Quebec Sells 14,457 Shares of JPMorgan Chase & Co. $JPM

Key Points

• The Federation des caisses Desjardins du Quebec reduced its holdings in JPMorgan Chase & Co. by 2.6%, owning 535,844 shares valued at $131.4 million after selling 14,457 shares in the first quarter.
• JPMorgan Chase reported a better-than-expected earnings per share of $4.96 for the last quarter, surpassing analysts' projections of $4.48, though revenue declined by 10.5% year-over-year to $44.91 billion.
• Analysts have mixed ratings for JPMorgan Chase's stock, with an average rating of "Moderate Buy" and a target price of $288.68, while several brokerages have set price objectives ranging from $235 to $340.

Federation des caisses Desjardins du Quebec lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 535,844 shares of the financial services provider's stock after selling 14,457 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in JPMorgan Chase & Co. were worth $131,447,000 at the end of the most recent quarter.

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

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded down $0.71 during midday trading on Wednesday, reaching $298.99. 6,314,243 shares of the company's stock were exchanged, compared to its average volume of 6,508,681. The company's 50 day simple moving average is $292.71 and its two-hundred day simple moving average is $265.82. The firm has a market capitalization of $822.14 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $302.95. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

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 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during 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 firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $6.12 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 completion of the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on JPM. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $291.67.

About JPMorgan Chase & Co.

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.