Quantitative Investment Management LLC Sells 28,675 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Quantitative Investment Management LLC reduced its stake in JPMorgan Chase & Co. by 75.2%, selling 28,675 shares and retaining only 9,470 shares worth $2,322,000.
• JPMorgan's COO sold 6,128 shares at an average price of $262.47, indicating an 8.94% decrease in their holdings to 62,455 shares.
• JPMorgan's stock showed a 1.6% increase recently and has a current market capitalization of $813.90 billion with a P/E ratio of 15.19.

Quantitative Investment Management LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 75.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,470 shares of the financial services provider's stock after selling 28,675 shares during the quarter. Quantitative Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $2,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wimmer Associates 1 LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after purchasing an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC boosted its holdings 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 valued at $3,340,000 after acquiring an additional 40 shares during the period. First Command Advisory Services Inc. increased its stake in JPMorgan Chase & Co. by 0.4% in the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $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 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after purchasing an additional 40 shares during the period. Finally, Beacon Bridge Wealth Partners LLC increased its stake in JPMorgan Chase & Co. by 1.8% in the 1st 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. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.6%

Shares of NYSE:JPM opened at $295.9920 on Friday. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $301.29. The firm has a market capitalization of $813.90 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.97 and a beta of 1.11. The stock has a 50 day moving average price of $288.92 and a 200-day moving average price of $264.42. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the company earned $6.12 EPS. The business's revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on JPM shares. Truist Financial lifted their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. HSBC reaffirmed a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

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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