JPMorgan Chase & Co. $JPM Shares Sold by Lee Financial Co

Key Points

• Lee Financial Co has reduced its holdings in JPMorgan Chase & Co. by 10.5%, selling 1,194 shares, and now owns 10,132 shares valued at approximately $2.49 million.
• Research analysts have mixed views on JPMorgan, with price targets ranging from $235 to $305, and an average target of $288.68 following a "Moderate Buy" consensus rating.
• JPMorgan Chase reported strong quarterly earnings with an EPS of $4.96, exceeding estimates, though revenue declined by 10.5% compared to the previous year.

Lee Financial Co trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,132 shares of the financial services provider's stock after selling 1,194 shares during the period. JPMorgan Chase & Co. accounts for about 0.4% of Lee Financial Co's holdings, making the stock its 25th biggest holding. Lee Financial Co's holdings in JPMorgan Chase & Co. were worth $2,485,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JPM. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after purchasing an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE increased its position in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after purchasing an additional 1,893 shares during the last quarter. KKM Financial LLC increased its position in JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after purchasing an additional 640 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in JPMorgan Chase & Co. by 7.9% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 26,134 shares of the financial services provider's stock worth $6,265,000 after purchasing an additional 1,923 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.4%

Shares of NYSE JPM traded down $1.1820 during midday trading on Thursday, hitting $291.0580. The company's stock had a trading volume of 6,622,726 shares, compared to its average volume of 7,551,326. The business's fifty day simple moving average is $288.29 and its two-hundred day simple moving average is $264.27. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29. The firm has a market capitalization of $800.34 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.94 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 for the quarter, beating the consensus estimate of $4.48 by $0.48. The firm 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 firm's revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $6.12 earnings per share. On average, equities analysts predict 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.