Lansforsakringar Fondforvaltning AB publ Has $238.47 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its position in JPMorgan Chase & Co. by 1.1%, now holding 972,157 shares valued at approximately $238 million, marking it as the firm's 10th largest investment.
• JPMorgan Chase reported earnings per share of $4.96 for the last quarter, exceeding analyst expectations of $4.48, despite a year-over-year revenue decline of 10.5%.
• HSBC has adjusted its outlook on JPMorgan, giving a "reduce" rating with a price target of $259, while other analysts maintain a mixed rating with a consensus of "Moderate Buy."

Lansforsakringar Fondforvaltning AB publ trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 972,157 shares of the financial services provider's stock after selling 10,437 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.5% of Lansforsakringar Fondforvaltning AB publ's holdings, making the stock its 10th largest position. Lansforsakringar Fondforvaltning AB publ's holdings in JPMorgan Chase & Co. were worth $238,470,000 as of its most recent SEC filing.

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

JPMorgan Chase & Co. Price Performance

Shares of JPM traded up $0.39 during midday trading on Friday, hitting $301.46. 6,790,292 shares of the company traded hands, compared to its average volume of 7,101,695. The firm has a 50 day moving average of $291.59 and a 200-day moving average of $265.33. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $302.95. The stock has a market cap of $828.94 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 2.00 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

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 EPS 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 business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the firm earned $6.12 EPS. The business's revenue was down 10.5% on a year-over-year basis. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated 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 transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

JPM has been the subject of several recent analyst reports. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Wells Fargo & Company upped their target price 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. 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. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a report on Friday, June 27th. Finally, TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. One investment 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 issued a Sell rating to the company. According to MarketBeat, the stock 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.