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

Key Points

• Rafferty Asset Management LLC has reduced its stake in JPMorgan Chase & Co. by 7.7%, owning 916,669 shares valued at approximately $224.86 million, making it the firm's 23rd largest holding.
• Insider trading activity includes COO Jennifer Piepszak selling 6,128 shares for over $1.6 million, representing an 8.94% decrease in her position.
• JPMorgan's stock price opened at $294.92, with a 52-week low of $200.61 and a high of $301.29, reflecting a market capitalization of $810.96 billion.

Rafferty Asset Management LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 916,669 shares of the financial services provider's stock after selling 76,611 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.0% of Rafferty Asset Management LLC's portfolio, making the stock its 23rd biggest holding. Rafferty Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $224,859,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake 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 worth $11,682,000 after buying an additional 4,841 shares during the period. Bank Pictet & Cie Europe AG increased its stake 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 worth $46,068,000 after buying an additional 1,229 shares during the period. Highview Capital Management LLC DE increased its stake 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 worth $3,266,000 after buying an additional 1,893 shares during the period. KKM Financial LLC increased its stake in shares of JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after buying an additional 640 shares during the period. Finally, Boothbay Fund Management LLC increased its stake in JPMorgan Chase & Co. by 28.0% in the fourth quarter. Boothbay Fund Management LLC now owns 1,959 shares of the financial services provider's stock valued at $470,000 after purchasing an additional 428 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insiders Place Their Bets

In other 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 completion of the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $294.92 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29. 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's 50-day simple moving average is $289.41 and its 200 day simple moving average is $264.46. The firm has a market capitalization of $810.96 billion, a PE ratio of 15.13, a P/E/G ratio of 1.97 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Finally, Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. 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 given a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. 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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