JPMorgan Chase & Co. $JPM Shares Sold by Kovitz Investment Group Partners LLC

Key Points

• Kovitz Investment Group Partners LLC significantly reduced its stake in JPMorgan Chase & Co. by 66.2%, selling over 1 million shares and holding 532,446 shares valued at $130.61 million at the end of the first quarter.
• Other large investors, including Brighton Jones LLC and Highview Capital Management LLC, have increased their holdings, indicating mixed sentiment among institutional investors regarding the stock.
• JPMorgan posted $4.96 earnings per share for the quarter, surpassing analyst expectations, but reported a 10.5% year-over-year revenue decline with a current market cap of $805.70 billion.

Kovitz Investment Group Partners LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 66.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 532,446 shares of the financial services provider's stock after selling 1,041,469 shares during the period. Kovitz Investment Group Partners LLC's holdings in JPMorgan Chase & Co. were worth $130,610,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in JPM. Brighton Jones LLC grew its holdings in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after buying an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in shares of JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after buying an additional 1,893 shares during the last quarter. Lionshead Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $514,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $4,440,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.5%

JPM stock opened at $293.01 on Tuesday. The company's 50-day simple moving average is $293.21 and its 200-day simple moving average is $266.22. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $305.15. The firm has a market cap of $805.70 billion, a P/E ratio of 15.03, a PEG ratio of 1.96 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results 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 net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the prior year, the company posted $6.12 EPS. The company's revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated 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 sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on JPM. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.