Wellington Management Group LLP Decreases Position in JPMorgan Chase & Co. $JPM

Key Points

• Wellington Management Group LLP reduced its stake in JPMorgan Chase & Co. by 18.6% in the first quarter, owning approximately 1.1% of the company after selling over 5.4 million shares.
• Several institutional investors have adjusted their positions in JPMorgan, with 71.55% of the stock currently owned by institutional investors.
• JPMorgan Chase reported $4.96 EPS for the last quarter, exceeding analysts' expectations, despite a 10.5% year-over-year decline in revenue.

Wellington Management Group LLP decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,865,573 shares of the financial services provider's stock after selling 5,465,035 shares during the period. JPMorgan Chase & Co. accounts for 1.1% of Wellington Management Group LLP's investment portfolio, making the stock its 11th biggest holding. Wellington Management Group LLP owned 0.86% of JPMorgan Chase & Co. worth $5,854,225,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Measured Risk Portfolios Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $54,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded down $1.1820 during trading hours on Thursday, hitting $291.0580. The stock had a trading volume of 6,622,726 shares, compared to its average volume of 7,551,326. The company has a 50 day simple moving average of $288.29 and a two-hundred day simple moving average of $264.27. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29. The firm has a market capitalization of $800.34 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.94 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock 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 issued a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $288.68.

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.