JPMorgan Chase & Co. $JPM Shares Sold by Phoenix Wealth Advisors

Key Points

• Phoenix Wealth Advisors has reduced its holdings in JPMorgan Chase & Co. by 10.7%, owning 15,143 shares valued at approximately $3.7 million as of the latest SEC filing.
• JPMorgan's quarterly earnings surpassed expectations, reporting $4.96 EPS on $44.91 billion revenue, although its revenue declined 10.5% year-on-year.
• Analysts have mixed ratings on JPMorgan's stock, with price targets ranging from $259.00 to $340.00, indicating varying sentiment about its future performance.

Phoenix Wealth Advisors trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 10.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,143 shares of the financial services provider's stock after selling 1,819 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.6% of Phoenix Wealth Advisors' portfolio, making the stock its 15th biggest position. Phoenix Wealth Advisors' holdings in JPMorgan Chase & Co. were worth $3,715,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wimmer Associates 1 LLC lifted its stake in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after buying an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after buying an additional 40 shares during the last quarter. First Command Advisory Services Inc. lifted its stake in JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after buying an additional 40 shares during the last quarter. Black Swift Group LLC lifted its stake in JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after buying an additional 40 shares during the last quarter. Finally, Beacon Bridge Wealth Partners LLC lifted its stake in JPMorgan Chase & Co. by 1.8% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after buying an additional 40 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 1.6%

NYSE:JPM opened at $295.9920 on Friday. The stock has a fifty day moving average price of $288.92 and a two-hundred day moving average price of $264.46. The stock has a market capitalization of $813.91 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.94 and a beta of 1.11. 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. has a 1 year low of $200.61 and a 1 year high of $301.29.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.12 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JPM. Bank of America boosted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Finally, Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction 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 sale, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

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