JPMorgan Chase & Co. $JPM Stock Holdings Decreased by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. cut its stake in JPMorgan Chase & Co. by 62.2% during Q2, resulting in ownership of 20,930 shares worth approximately $6.07 million.
• Multiple brokerage firms have adjusted their ratings and price targets for JPMorgan, with Truist Financial raising its price target to $290 and Wells Fargo increasing theirs to $325.
• JPMorgan's quarterly earnings report showed an EPS of $4.96, exceeding estimates, but revenue declined 10.5% year-over-year, totaling $44.91 billion.

Thurston Springer Miller Herd & Titak Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 62.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 20,930 shares of the financial services provider's stock after selling 34,426 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Thurston Springer Miller Herd & Titak Inc.'s holdings, making the stock its 17th biggest holding. Thurston Springer Miller Herd & Titak Inc.'s holdings in JPMorgan Chase & Co. were worth $6,069,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Florida Financial Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after buying an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $471,000. Crown Wealth Group LLC grew its position in shares of JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 222 shares during the last quarter. Mosaic Financial Group LLC grew its position in shares of JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after buying an additional 78 shares during the last quarter. Finally, Morse Asset Management Inc grew its position in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after buying an additional 420 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JPM. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $291.67.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the director directly owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale 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. Trading Up 0.4%

Shares of NYSE:JPM opened at $306.88 on Friday. The company has a 50 day moving average of $293.94 and a 200-day moving average of $267.38. The firm has a market cap of $843.84 billion, a P/E ratio of 15.75, a P/E/G ratio of 2.03 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $307.55. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly 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 company had revenue of $44.91 billion during the quarter, compared to analyst estimates 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 for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $6.12 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

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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