Peloton Wealth Strategists Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Peloton Wealth Strategists reduced its holdings in JPMorgan Chase & Co. by 26.2%, owning 25,325 shares after selling 9,010 shares in the first quarter.
• Despite the decrease, JPMorgan Chase & Co. remains the 11th largest position in Peloton Wealth Strategists' portfolio, valued at approximately $6.21 million.
• JPMorgan Chase & Co. has a current price target consensus of $291.67 and a rating of "Moderate Buy" from analysts, with recent reports indicating mixed ratings among various brokers.

Peloton Wealth Strategists decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 26.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,325 shares of the financial services provider's stock after selling 9,010 shares during the quarter. JPMorgan Chase & Co. accounts for 2.6% of Peloton Wealth Strategists' portfolio, making the stock its 11th largest position. Peloton Wealth Strategists' holdings in JPMorgan Chase & Co. were worth $6,212,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wimmer Associates 1 LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after acquiring an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.3% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after buying an additional 40 shares during the last quarter. First Command Advisory Services Inc. boosted its position in shares of 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 buying an additional 40 shares during the last quarter. Black Swift Group LLC boosted its position in shares of JPMorgan Chase & Co. by 0.7% during 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 buying an additional 40 shares during the last quarter. Finally, Beacon Bridge Wealth Partners LLC lifted 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 valued at $547,000 after acquiring an additional 40 shares during the period. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent research reports. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $291.67.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's 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 in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Down 0.5%

JPM opened at $293.01 on Tuesday. The stock has a fifty day moving average price of $293.21 and a 200-day moving average price of $266.22. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $305.15. The firm 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. 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 announced 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. The company had revenue of $44.91 billion for 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 quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $6.12 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.