Motley Fool Asset Management LLC Cuts Position in JPMorgan Chase & Co. $JPM

Key Points

• Motley Fool Asset Management LLC reduced its stake in JPMorgan Chase & Co. by 1.5%, now holding 130,064 shares valued at approximately $31.9 million, representing about 1.8% of its total portfolio.
• Several hedge funds increased their stakes in JPMorgan, with Brighton Jones LLC and Jump Financial LLC notably raising their holdings by 11.0% and 211.8% respectively during the fourth quarter.
• The stock has an average target price of $288.68 according to analysts, with three sell ratings, seven holds, and thirteen buy ratings, suggesting a consensus of a "Moderate Buy."

Motley Fool Asset Management LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,064 shares of the financial services provider's stock after selling 1,924 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.8% of Motley Fool Asset Management LLC's investment portfolio, making the stock its 15th biggest holding. Motley Fool Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $31,905,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Ballast Inc. grew its stake in shares of JPMorgan Chase & Co. by 2.1% in the 1st quarter. Ballast Inc. now owns 14,290 shares of the financial services provider's stock valued at $3,505,000 after buying an additional 296 shares during the period. Operose Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 22.9% in the 1st quarter. Operose Advisors LLC now owns 3,335 shares of the financial services provider's stock valued at $818,000 after buying an additional 621 shares during the period. Maia Wealth LLC boosted its stake in JPMorgan Chase & Co. by 3.6% during the 1st quarter. Maia Wealth LLC now owns 5,089 shares of the financial services provider's stock valued at $1,194,000 after purchasing an additional 177 shares during the last quarter. Independent Advisor Alliance boosted its stake in JPMorgan Chase & Co. by 2.2% during the 1st quarter. Independent Advisor Alliance now owns 185,379 shares of the financial services provider's stock valued at $45,474,000 after purchasing an additional 3,933 shares during the last quarter. Finally, Cove Private Wealth LLC boosted its stake in JPMorgan Chase & Co. by 19.4% during the 1st quarter. Cove Private Wealth LLC now owns 23,512 shares of the financial services provider's stock valued at $5,767,000 after purchasing an additional 3,814 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on JPM. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Finally, Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,557 shares of company stock worth $4,113,796. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPM stock traded up $0.98 during midday trading on Monday, reaching $291.47. 2,087,761 shares of the company's stock traded hands, compared to its average volume of 9,885,242. The company has a 50-day moving average price of $286.42 and a two-hundred day moving average price of $263.55. 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. has a 52 week low of $200.61 and a 52 week high of $301.29. The firm has a market capitalization of $801.47 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its 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 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 for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.12 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

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.