Gabelli Funds LLC Sells 20,535 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Gabelli Funds LLC reduced its stake in JPMorgan Chase & Co. by 5.4%, now holding 360,250 shares valued at approximately $88.37 million.
• The stock has an average price target of $288.68 according to analysts, with ratings ranging from Strong Buy to Moderate Sell.
• JPMorgan Chase reported earnings of $4.96 per share for the last quarter, exceeding estimates, but revenue decreased by 10.5% year-over-year.

Gabelli Funds LLC decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 360,250 shares of the financial services provider's stock after selling 20,535 shares during the period. JPMorgan Chase & Co. comprises 0.7% of Gabelli Funds LLC's portfolio, making the stock its 23rd largest holding. Gabelli Funds LLC's holdings in JPMorgan Chase & Co. were worth $88,369,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Northern Trust Corp increased its holdings in shares of JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after purchasing an additional 454,226 shares during the period. GAMMA Investing LLC increased its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after purchasing an additional 548,853 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of JPMorgan Chase & Co. by 16.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after buying an additional 2,465,572 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM traded up $1.53 during trading on Thursday, hitting $300.81. The company's stock had a trading volume of 6,409,172 shares, compared to its average volume of 7,518,651. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a 50 day moving average price of $290.51 and a 200 day moving average price of $264.94. The firm has a market cap of $827.15 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on JPM shares. TD Cowen started coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target for the company. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. HSBC reissued a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. One equities research 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. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average price target of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the firm'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 transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.