Strategic Financial Services Inc. Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Strategic Financial Services Inc. has reduced its stake in JPMorgan Chase & Co. by 4.6% during the first quarter, owning 27,055 shares valued at approximately $6.64 million, marking it as the 24th largest holding in their portfolio.
• Multiple institutional investors, such as Bank of New York Mellon Corp. and GAMMA Investing LLC, have increased their holdings in JPMorgan Chase, reflecting continued interest in the stock.
• Analysts have issued a mix of ratings on JPMorgan shares, with Zacks downgrading it to a "hold," while others like Citigroup set a price target of $275, indicating differing outlooks on the company's performance.

Strategic Financial Services Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,055 shares of the financial services provider's stock after selling 1,308 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.4% of Strategic Financial Services Inc.'s investment portfolio, making the stock its 24th biggest position. Strategic Financial Services Inc.'s holdings in JPMorgan Chase & Co. were worth $6,637,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $33,000. Minot DeBlois Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $54,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $64,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.6%

Shares of JPMorgan Chase & Co. stock traded up $1.94 during trading on Monday, hitting $308.85. 1,838,720 shares of the stock traded hands, compared to its average volume of 9,578,469. The stock's fifty day simple moving average is $293.94 and its 200 day simple moving average is $267.44. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $309.95. 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 firm has a market cap of $849.26 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13.

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. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company's revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.12 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on JPM shares. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Finally, Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. One 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.67.

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 on 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 sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by insiders.

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.