Smead Capital Management Inc. Sells 93,373 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Smead Capital Management Inc. has reduced its holdings in JPMorgan Chase & Co. by 8.6%, selling 93,373 shares to own a total of 987,155 shares worth approximately $242.15 million.
• Insider activity includes COO Jennifer Piepszak selling 6,128 shares for over $1.6 million, representing an 8.94% decrease in her ownership of the stock.
• The stock has a market cap of $827.15 billion and reported earnings of $4.96 per share, exceeding analyst expectations of $4.48.

Smead Capital Management Inc. reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 987,155 shares of the financial services provider's stock after selling 93,373 shares during the quarter. JPMorgan Chase & Co. makes up about 4.2% of Smead Capital Management Inc.'s holdings, making the stock its 11th largest position. Smead Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $242,149,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the first quarter worth about $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth about $33,000. Measured Risk Portfolios Inc. purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $54,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm'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 value 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 approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $300.81 on Friday. The stock has a market cap of $827.15 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average of $291.05 and a 200-day moving average of $265.15.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations 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. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research reports. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Finally, Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

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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