Capital Investment Counsel LLC Sells 853 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Capital Investment Counsel LLC has reduced its stake in JPMorgan Chase & Co. by 2.2%, now holding 37,150 shares valued at approximately $9.11 million, making it the firm's 18th largest position.
• Several other institutional investors, including Bank of New York Mellon Corp and GAMMA Investing LLC, have increased their holdings in JPMorgan Chase, indicating strong interest from major financial firms.
• JPMorgan Chase reported $4.96 earnings per share in its latest quarterly earnings, surpassing analyst expectations, although revenue was down 10.5% compared to the previous year.

Capital Investment Counsel LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,150 shares of the financial services provider's stock after selling 853 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.5% of Capital Investment Counsel LLC's investment portfolio, making the stock its 18th largest position. Capital Investment Counsel LLC's holdings in JPMorgan Chase & Co. were worth $9,113,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings 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 acquiring an additional 4,841 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings 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 acquiring an additional 1,229 shares during the period. Highview Capital Management LLC DE boosted its stake in shares of JPMorgan Chase & Co. by 16.1% in the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after buying an additional 1,893 shares during the period. KKM Financial LLC boosted its stake in shares of JPMorgan Chase & Co. by 3.9% in the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after buying an additional 640 shares during the period. Finally, Algert Global LLC boosted its stake in shares of JPMorgan Chase & Co. by 11.8% in the fourth quarter. Algert Global LLC now owns 16,000 shares of the financial services provider's stock valued at $3,835,000 after buying an additional 1,690 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. TD Cowen started coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target for the company. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $291.67.

JPMorgan Chase & Co. Stock Up 1.4%

Shares of JPM stock traded up $4.32 on Thursday, reaching $303.83. 4,772,531 shares of the company were exchanged, compared to its average volume of 9,664,684. The company has a market cap of $835.45 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.00 and a beta of 1.13. The company has a 50-day moving average of $292.71 and a 200-day moving average of $265.82. 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 $304.43.

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 analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.12 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Company 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.