JPMorgan Chase & Co. $JPM is New England Asset Management Inc.'s 8th Largest Position

Key Points

• New England Asset Management Inc. has reduced its stake in JPMorgan Chase & Co. by 5.7%, selling 2,725 shares, which now represents 1.8% of its holdings valued at approximately $11 million.
• Institutional investors and hedge funds collectively own 71.55% of JPMorgan Chase & Co.'s stock, with several firms increasing their stakes during the first quarter.
• JPMorgan Chase & Co. reported earnings of $4.96 per share for the latest quarter, exceeding estimates, but showed a 10.5% decline in revenue compared to the same period last year.

New England Asset Management Inc. cut its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,985 shares of the financial services provider's stock after selling 2,725 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.8% of New England Asset Management Inc.'s portfolio, making the stock its 8th largest holding. New England Asset Management Inc.'s holdings in JPMorgan Chase & Co. were worth $11,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $28,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Measured Risk Portfolios Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $54,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 0.5%

NYSE JPM traded down $1.37 on Monday, hitting $293.01. 7,894,881 shares of the company were exchanged, compared to its average volume of 9,669,399. The company 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 12 month low of $200.61 and a 12 month high of $305.15. The stock has a fifty day moving average of $293.16 and a 200-day moving average of $266.02. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

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 (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm earned $6.12 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In related 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 transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Morgan Stanley upped their price objective 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. HSBC restated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Truist Financial upped their price target on shares of 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, 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $291.67.

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.