RBO & Co. LLC Sells 2,053 Shares of JPMorgan Chase & Co. $JPM

Key Points

• RBO & Co. LLC reduced its stake in JPMorgan Chase & Co. by 1.9%, now holding 108,319 shares valued at approximately $26.57 million.
• Multiple institutional investors have increased their stakes in JPMorgan Chase, with Bahl & Gaynor Inc. growing its holdings by 4.7%.
• JPMorgan Chase reported earnings of $4.96 per share for the latest quarter, exceeding analysts' expectations and reflecting a 10.5% year-over-year revenue decline.

RBO & Co. LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 108,319 shares of the financial services provider's stock after selling 2,053 shares during the period. JPMorgan Chase & Co. makes up 4.2% of RBO & Co. LLC's portfolio, making the stock its 7th largest holding. RBO & Co. LLC's holdings in JPMorgan Chase & Co. were worth $26,571,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bahl & Gaynor Inc. grew its stake in JPMorgan Chase & Co. by 4.7% in the 1st quarter. Bahl & Gaynor Inc. now owns 2,088,378 shares of the financial services provider's stock valued at $512,279,000 after buying an additional 92,820 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in JPMorgan Chase & Co. by 3.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,067,306 shares of the financial services provider's stock valued at $261,810,000 after buying an additional 39,142 shares during the last quarter. Lionshead Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 13.7% in the 1st quarter. Lionshead Wealth Management LLC now owns 2,440 shares of the financial services provider's stock valued at $599,000 after buying an additional 294 shares during the last quarter. Heritage Wealth Partners LLC grew its stake in JPMorgan Chase & Co. by 7.4% in the 1st quarter. Heritage Wealth Partners LLC now owns 2,679 shares of the financial services provider's stock valued at $657,000 after buying an additional 185 shares during the last quarter. Finally, Sax Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 18.7% in the 1st quarter. Sax Wealth Advisors LLC now owns 19,295 shares of the financial services provider's stock valued at $4,733,000 after buying an additional 3,046 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on JPM shares. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective for the company. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. HSBC reissued a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, Truist Financial boosted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $295.9920 on Friday. The company has a 50 day moving average of $288.92 and a 200-day moving average of $264.46. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. 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 company has a market cap of $813.91 billion, a PE ratio of 15.19, 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 for the quarter, topping analysts' consensus estimates 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 company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the firm posted $6.12 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Company 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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