Kodai Capital Management LP Lowers Stake in JPMorgan Chase & Co. $JPM

Key Points

• Kodai Capital Management LP reduced its stake in JPMorgan Chase & Co. by 15.6%, selling 16,879 shares and ending the quarter with 91,534 shares valued at approximately $22.45 million.
• JPMorgan Chase & Co. reported a quarterly earnings of $4.96 EPS, exceeding the consensus estimate of $4.48 while also noting a 10.5% decline in revenue compared to the same quarter last year.
• Analysts have variously set new price targets for JPMorgan Chase & Co., with a consensus rating of "Moderate Buy" and an average target price of $288.68.

Kodai Capital Management LP cut its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,534 shares of the financial services provider's stock after selling 16,879 shares during the quarter. Kodai Capital Management LP's holdings in JPMorgan Chase & Co. were worth $22,453,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of JPM. GAMMA Investing LLC boosted its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $3,972,807,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after buying an additional 2,551,899 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after buying an additional 2,465,572 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $454,042,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on JPM shares. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research note on Friday, June 27th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, TD Cowen started coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other 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 transaction, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Up 0.1%

Shares of JPM stock traded up $0.39 during mid-day trading on Friday, hitting $301.46. 6,790,292 shares of the company's stock were exchanged, compared to its average volume of 7,101,695. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $302.95. The stock has a 50-day simple moving average of $291.59 and a two-hundred day simple moving average of $265.26. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. 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.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm 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 firm'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 earnings per share. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Company 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.