JPMorgan Chase & Co. $JPM Stock Position Trimmed by Laffer Tengler Investments Inc.

Key Points

• Laffer Tengler Investments Inc. reduced its holdings in JPMorgan Chase & Co. by 7.4%, bringing its total shares to 56,204, which now represents 2.9% of its portfolio.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell, and an average target price of $288.68 for JPMorgan Chase & Co.
• The financial services provider reported $4.96 earnings per share last quarter, exceeding analyst expectations, although revenue fell 10.5% from the previous year.

Laffer Tengler Investments Inc. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,204 shares of the financial services provider's stock after selling 4,500 shares during the quarter. JPMorgan Chase & Co. accounts for 2.9% of Laffer Tengler Investments Inc.'s portfolio, making the stock its 7th largest position. Laffer Tengler Investments Inc.'s holdings in JPMorgan Chase & Co. were worth $13,787,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Measured Risk Portfolios Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

JPM has been the subject of several analyst reports. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of the 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 transaction, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $295.9920 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $288.92 and a 200-day simple moving average of $264.46. The firm has a market capitalization of $813.90 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $6.12 earnings per share. Equities research 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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