JPMorgan Chase & Co. $JPM Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in JPMorgan Chase & Co. by 2.6%, selling 786,629 shares and resulting in ownership of 28,907,315 shares, which accounts for approximately 0.9% of its portfolio.
• In recent insider trading, COO Jennifer Piepszak sold 6,128 shares at an average price of $262.47, reflecting a 8.94% decrease in her ownership of the stock.
• Analysts have set mixed ratings for JPMorgan's stock, with a consensus rating of "Moderate Buy" and a price target averaging around $288.68, following various upgrades and downgrades from different firms.

Price T Rowe Associates Inc. MD trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,907,315 shares of the financial services provider's stock after selling 786,629 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.9% of Price T Rowe Associates Inc. MD's portfolio, making the stock its 14th biggest holding. Price T Rowe Associates Inc. MD owned 1.04% of JPMorgan Chase & Co. worth $7,090,966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of JPM. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at about $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at about $33,000. Measured Risk Portfolios Inc. purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $54,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the 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 owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Down 0.4%

NYSE:JPM opened at $291.0580 on Friday. The stock's 50 day moving average price is $288.29 and its 200 day moving average price is $264.27. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29. The company has a market capitalization of $800.34 billion, a P/E ratio of 14.93, a P/E/G 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. (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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 earnings per share. The firm's revenue was down 10.5% on a year-over-year basis. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

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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