JPMorgan Chase & Co. $JPM Shares Sold by Marotta Asset Management

Key Points

• Marotta Asset Management reduced its holdings in JPMorgan Chase & Co. by 46.1% during the second quarter, now owning 1,390 shares valued at approximately $403,000.
• JPMorgan Chase & Co. reported earnings of $4.96 per share for the recent quarter, exceeding analysts' expectations of $4.48, despite a 10.5% year-over-year decline in revenue.
• Overall, institutional investors and hedge funds own 71.55% of the company's stock, indicating strong institutional interest in JPMorgan Chase & Co.

Marotta Asset Management lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 46.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,390 shares of the financial services provider's stock after selling 1,189 shares during the period. Marotta Asset Management's holdings in JPMorgan Chase & Co. were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in JPM. Brighton Jones LLC lifted its position in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after acquiring an additional 1,229 shares during the period. Highview Capital Management LLC DE lifted its position in shares of JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after acquiring an additional 1,893 shares during the period. Redwood Investment Management LLC lifted its position in shares of JPMorgan Chase & Co. by 28.3% during the 4th quarter. Redwood Investment Management LLC now owns 5,092 shares of the financial services provider's stock valued at $1,221,000 after acquiring an additional 1,123 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of JPMorgan Chase & Co. by 40.2% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 262,648 shares of the financial services provider's stock valued at $62,959,000 after acquiring an additional 75,356 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.4%

Shares of JPM opened at $306.88 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $293.94 and a 200-day simple moving average of $267.32. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $307.55. The stock has a market cap of $843.84 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13.

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 for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the company posted $6.12 EPS. The company's revenue was down 10.5% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other 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 completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on JPM. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.

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