JPMorgan Chase & Co. $JPM Shares Sold by SRN Advisors LLC

Key Points

• SRN Advisors LLC reduced its holdings in JPMorgan Chase & Co. by 31.8% during the first quarter, now owning 3,830 shares valued at approximately $939,000.
• Several other hedge funds have increased their positions, indicating a varied confidence level among institutional investors; 71.55% of JPM's stock is owned by such investors.
• JPMorgan Chase reported earnings of $4.96 per share, exceeding estimates, but showed a 10.5% decline in revenue compared to the previous year.

SRN Advisors LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 31.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,830 shares of the financial services provider's stock after selling 1,783 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of SRN Advisors LLC's investment portfolio, making the stock its 29th largest position. SRN Advisors LLC's holdings in JPMorgan Chase & Co. were worth $939,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in JPM. GAMMA Investing LLC grew its position in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Nuveen LLC purchased a new position in JPMorgan Chase & Co. in the first quarter worth approximately $3,972,807,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after acquiring an additional 2,551,899 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after acquiring an additional 2,465,572 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $454,042,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.1%

Shares of JPMorgan Chase & Co. stock traded up $0.39 during trading on Friday, hitting $301.46. 6,790,292 shares of the stock were exchanged, compared to its average volume of 6,841,159. The stock has a market cap of $828.94 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 2.00 and a beta of 1.13. The firm's 50-day moving average price is $291.59 and its 200 day moving average price is $265.18. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $302.95. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

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, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $6.12 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction 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 owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on JPM shares. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Morgan Stanley increased 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 research report on Wednesday, July 16th. Wells Fargo & Company increased their price objective on shares of 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 shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, HSBC reaffirmed a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

About JPMorgan Chase & Co.

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.