Nearwater Capital Markets Ltd Has $75.55 Million Stake in JPMorgan Chase & Co. $JPM

Key Points

• Nearwater Capital Markets Ltd sold 38,000 shares of JPMorgan Chase & Co., decreasing its holdings by 11% to 308,000 shares, valued at approximately $75.55 million.
• JPMorgan Chase & Co. reported $4.96 EPS for the last quarter, exceeding estimates, but with revenue down 10.5% year-over-year at $44.91 billion.
• Institutional investors own approximately 71.55% of JPMorgan Chase & Co. stock, with several large firms increasing their positions significantly during the first quarter.

Nearwater Capital Markets Ltd cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,000 shares of the financial services provider's stock after selling 38,000 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.1% of Nearwater Capital Markets Ltd's holdings, making the stock its 10th largest holding. Nearwater Capital Markets Ltd's holdings in JPMorgan Chase & Co. were worth $75,552,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in JPM. Wimmer Associates 1 LLC grew its position in shares of JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after buying an additional 40 shares during the period. Twin Lakes Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after acquiring an additional 40 shares during the last quarter. First Command Advisory Services Inc. grew its holdings in JPMorgan Chase & Co. by 0.4% during the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after purchasing an additional 40 shares during the period. Black Swift Group LLC increased its stake in JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after purchasing an additional 40 shares in the last quarter. Finally, Beacon Bridge Wealth Partners LLC raised its holdings in JPMorgan Chase & Co. by 1.8% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JPM. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Finally, HSBC restated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $291.67.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 sale, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Down 0.5%

NYSE:JPM traded down $1.37 during trading hours on Monday, reaching $293.01. 7,894,881 shares of the stock were exchanged, compared to its average volume of 9,669,399. The stock has a market cap of $805.70 billion, a PE ratio of 15.03, a PEG ratio of 1.96 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $305.15. The firm has a 50 day moving average of $293.16 and a 200 day moving average of $266.02. 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. (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, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 earnings per share. The firm's revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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.