Northeast Financial Consultants Inc Sells 29,861 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Northeast Financial Consultants Inc reduced its holdings in JPMorgan Chase & Co. by 19.8%, selling 29,861 shares and now holds 120,671 shares valued at approximately $29.6 million.
• Multiple large institutional investors increased their stakes in JPMorgan Chase, including GAMMA Investing LLC, which raised its holdings by 25,861.9% during the first quarter.
• JPMorgan Chase reported strong earnings of $4.96 per share, exceeding analysts' expectations, despite a 10.5% decline in revenue year-over-year.

Northeast Financial Consultants Inc decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 19.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,671 shares of the financial services provider's stock after selling 29,861 shares during the period. JPMorgan Chase & Co. comprises approximately 1.3% of Northeast Financial Consultants Inc's investment portfolio, making the stock its 17th biggest holding. Northeast Financial Consultants Inc's holdings in JPMorgan Chase & Co. were worth $29,601,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of JPMorgan Chase & Co. by 16.3% during the fourth 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 worth $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on 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 approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPMorgan Chase & Co. stock opened at $293.01 on Tuesday. The company has a fifty day simple moving average of $293.21 and a 200-day simple moving average of $266.22. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $305.15. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $805.70 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.96 and a beta of 1.13.

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, beating 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 business posted $6.12 EPS. The company's revenue for the quarter was down 10.5% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 target price for the company. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $291.67.

JPMorgan Chase & Co. 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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