RNC Capital Management LLC Has $66.82 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• RNC Capital Management LLC reduced its holdings in JPMorgan Chase & Co. by 24.1% in the first quarter, now owning about $66.82 million worth of the stock, which is its 3rd largest holding.
• Insider transactions revealed that Director Linda Bammann sold 9,500 shares for approximately $2.83 million, representing a 10.36% decrease in her position.
• Wall Street analysts have set varied price targets for JPMorgan Chase, with the average target now at $291.67, indicating a generally positive outlook with multiple "Buy" ratings.

RNC Capital Management LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 24.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 272,410 shares of the financial services provider's stock after selling 86,342 shares during the quarter. JPMorgan Chase & Co. makes up about 3.4% of RNC Capital Management LLC's portfolio, making the stock its 3rd biggest holding. RNC Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $66,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Arete Wealth Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 91.8% during the 1st quarter. Arete Wealth Advisors LLC now owns 67,873 shares of the financial services provider's stock worth $16,649,000 after acquiring an additional 32,490 shares during the period. Strait & Sound Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 2.3% in the 1st quarter. Strait & Sound Wealth Management LLC now owns 9,452 shares of the financial services provider's stock valued at $2,319,000 after purchasing an additional 217 shares during the period. Caxton Associates LLP bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $72,054,000. Sciencast Management LP bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $2,701,000. Finally, Fred Alger Management LLC boosted its stake in JPMorgan Chase & Co. by 17.7% in the 1st quarter. Fred Alger Management LLC now owns 134,874 shares of the financial services provider's stock valued at $33,085,000 after purchasing an additional 20,241 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 completion of the transaction, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $294.79 on Monday. The stock has a market capitalization of $810.59 billion, a PE ratio of 15.12, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The business has a fifty day moving average price of $293.16 and a two-hundred day moving average price of $266.02. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $305.15.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the previous year, the firm earned $6.12 EPS. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent research reports. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Finally, Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. One research 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $291.67.

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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