Logan Capital Management Inc. Sells 24,031 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Logan Capital Management Inc. has reduced its stake in JPMorgan Chase & Co. by 21.6%, selling 24,031 shares, and now holds 87,255 shares worth approximately $21.4 million.
• Several institutional investors have shown significant activity with JPMorgan, with GAMMA Investing LLC increasing its holdings by 25,861.9% to over $5.77 billion.
• Analysts have mixed ratings on JPM, with one upgrade to "hold" and others maintaining targets ranging from $280 to $305, while the stock currently has an average rating of "Moderate Buy."

Logan Capital Management Inc. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,255 shares of the financial services provider's stock after selling 24,031 shares during the quarter. JPMorgan Chase & Co. makes up about 1.0% of Logan Capital Management Inc.'s investment portfolio, making the stock its 22nd largest position. Logan Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $21,404,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of JPM. GAMMA Investing LLC boosted its holdings in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $3,972,807,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in JPMorgan Chase & Co. by 16.3% during the 4th 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 acquiring an additional 2,465,572 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $454,042,000. Finally, National Bank of Canada FI lifted its holdings in JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after buying an additional 1,388,992 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective for the company. Morgan Stanley increased their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Truist Financial increased their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Finally, Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $291.67.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of NYSE:JPM opened at $293.01 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $305.15. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $805.70 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.96 and a beta of 1.13. The stock has a 50 day moving average price of $293.21 and a 200-day moving average price of $266.22.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The company 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 firm's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $6.12 EPS. As a group, equities research analysts anticipate 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.

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