MBB Public Markets I LLC Sells 21,790 Shares of JPMorgan Chase & Co. $JPM

Key Points

• MBB Public Markets I LLC reduced its stake in JPMorgan Chase & Co. by 94.2%, selling 21,790 shares and now holding only 1,341 shares, worth approximately $329,000.
• Multiple large investors, including Ascent Group LLC and Arete Wealth Advisors LLC, significantly increased their holdings in JPMorgan Chase, with Arete Wealth Advisors growing by 91.8% during the same quarter.
• JPMorgan Chase's latest earnings report showed earnings per share (EPS) of $4.96, exceeding estimates by $0.48, although revenue was down 10.5% year-over-year.

MBB Public Markets I LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 94.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,341 shares of the financial services provider's stock after selling 21,790 shares during the period. MBB Public Markets I LLC's holdings in JPMorgan Chase & Co. were worth $329,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Ascent Group LLC grew its holdings in JPMorgan Chase & Co. by 18.3% in the 1st quarter. Ascent Group LLC now owns 74,425 shares of the financial services provider's stock worth $18,257,000 after acquiring an additional 11,537 shares during the last quarter. Arete Wealth Advisors LLC grew its holdings in JPMorgan Chase & Co. by 91.8% in the 1st quarter. Arete Wealth Advisors LLC now owns 67,873 shares of the financial services provider's stock worth $16,649,000 after acquiring an additional 32,490 shares during the last quarter. Strait & Sound Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 2.3% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 9,452 shares of the financial services provider's stock worth $2,319,000 after acquiring an additional 217 shares during the last quarter. Caxton Associates LLP bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth $72,054,000. Finally, Sciencast Management LP bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth $2,701,000. Institutional investors own 71.55% of the company's stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, 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 can be accessed through this hyperlink. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised 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 report on Wednesday, July 16th. Morgan Stanley raised their target price on shares of 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. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $291.67.

JPMorgan Chase & Co. Trading Down 3.0%

Shares of NYSE JPM opened at $294.79 on Monday. The stock has a market cap of $810.59 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. 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 $305.15. The firm has a 50-day moving average of $293.16 and a 200 day moving average of $266.02.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released 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 business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $6.12 EPS. As a group, sell-side 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.

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