JPMorgan Chase & Co. $JPM Stock Position Cut by Kimelman & Baird LLC

Key Points

• Kimelman & Baird LLC reduced its position in JPMorgan Chase & Co. by 1.8%, holding 244,554 shares worth approximately $59.99 million.
• JPMorgan Chase & Co. reported $4.96 earnings per share, exceeding analysts' estimates, despite a 10.5% revenue decline year-over-year.
• Institutional investors own 71.55% of JPMorgan Chase & Co.'s stock, reflecting strong institutional interest in the financial services provider.

Kimelman & Baird LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,554 shares of the financial services provider's stock after selling 4,387 shares during the period. JPMorgan Chase & Co. comprises 5.1% of Kimelman & Baird LLC's holdings, making the stock its 3rd largest position. Kimelman & Baird LLC's holdings in JPMorgan Chase & Co. were worth $59,989,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. in the first quarter worth approximately $30,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth $33,000. Measured Risk Portfolios Inc. purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $54,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on 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 transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. The trade was 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 corporate insiders.

JPMorgan Chase & Co. Stock Up 0.4%

Shares of JPM traded up $1.2850 during midday trading on Wednesday, reaching $291.9450. 4,109,579 shares of the company were exchanged, compared to its average volume of 9,845,038. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The stock has a 50-day moving average price of $287.35 and a 200-day moving average price of $263.91. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a market cap of $802.78 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results 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. The business had revenue of $44.91 billion for 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 company's revenue was down 10.5% on a year-over-year basis. During the same period last year, the business posted $6.12 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

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.