JPMorgan Chase & Co. $JPM Stake Lowered by WCG Wealth Advisors LLC

Key Points

• WCG Wealth Advisors LLC reduced its stake in JPMorgan Chase & Co. by 6.3%, owning 31,870 shares valued at approximately $7.8 million.
• Multiple institutional investors have increased their holdings in JPMorgan, with Northern Trust Corp growing its stake by 15.4% in the last quarter.
• JPMorgan Chase & Co. reported earnings of $4.96 per share, surpassing analyst expectations, while revenue decreased by 10.5% compared to the previous year's same quarter.

WCG Wealth Advisors LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,870 shares of the financial services provider's stock after selling 2,160 shares during the quarter. WCG Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $7,818,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Northern Trust Corp grew its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent research reports. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price for the company. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. HSBC reissued a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, Truist Financial increased their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Stock Performance

JPM opened at $295.9920 on Monday. The company has a market capitalization of $813.90 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. 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 1-year low of $200.61 and a 1-year high of $301.29. The business has a 50 day moving average price of $288.92 and a two-hundred day moving average price of $264.33.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.12 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

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 that occurred 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 completion of the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $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 SEC, which is available at this hyperlink. 0.47% of the stock is owned by company insiders.

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.

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