RWA Wealth Partners LLC Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• RWA Wealth Partners LLC reduced its stake in JPMorgan Chase & Co. by 2.2%, selling 9,472 shares, and now holds 427,625 shares valued at approximately $104.9 million.
• Significant investor activities included GAMMA Investing LLC massively increasing its stake by 25,861.9%, now owning over 23.5 million shares worth nearly $5.8 billion.
• JPMorgan Chase & Co. reported earnings of $4.96 EPS, exceeding estimates, despite a quarterly revenue decline of 10.5% compared to the previous year.

RWA Wealth Partners LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 427,625 shares of the financial services provider's stock after selling 9,472 shares during the period. JPMorgan Chase & Co. makes up about 1.3% of RWA Wealth Partners LLC's holdings, making the stock its 13th largest position. RWA Wealth Partners LLC's holdings in JPMorgan Chase & Co. were worth $104,896,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JPM. Florida Financial Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $471,000. Crown Wealth Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares in the last quarter. Morse Asset Management Inc lifted its holdings in JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after acquiring an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on JPM shares. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded down $1.1820 during trading on Thursday, hitting $291.0580. 6,622,726 shares of the company were exchanged, compared to its average volume of 7,551,326. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $301.29. The stock has a 50 day moving average of $288.29 and a 200 day moving average of $264.27. 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 company has a market cap of $800.34 billion, a PE ratio of 14.93, a P/E/G ratio of 1.94 and a beta of 1.11.

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