Pinnacle Wealth Management LLC Sells 8,359 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Pinnacle Wealth Management LLC reduced its holdings in JPMorgan Chase & Co. by 83.7%, owning only 1,629 shares worth $400,000 after selling 8,359 shares in the first quarter.
• JPMorgan Chase's COO Jennifer Piepszak sold 6,128 shares at an average price of $262.47, representing an 8.94% decrease in their personal stake.
• Analysts have set a consensus target price of $288.68 for JPMorgan Chase, with ratings ranging from Strong Buy to Sell.

Pinnacle Wealth Management LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 83.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,629 shares of the financial services provider's stock after selling 8,359 shares during the period. Pinnacle Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in JPMorgan Chase & Co. by 25,861.9% during 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. Nuveen LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth $3,972,807,000. Northern Trust Corp increased its holdings in JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after buying an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 buying an additional 2,465,572 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on JPM shares. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Bank of America upped their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded down $1.1820 on Thursday, hitting $291.0580. The stock had a trading volume of 6,622,726 shares, compared to its average volume of 7,551,326. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. The business's 50 day moving average is $288.29 and its two-hundred day moving average is $264.27. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $800.34 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $6.12 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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.