JPMorgan Chase & Co. $JPM Position Trimmed by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its stake in JPMorgan Chase & Co. by 0.2%, selling 5,735 shares and holding approximately 2,672,001 shares at the end of the first quarter.
• JPMorgan Chase & Co. reported $4.96 earnings per share, surpassing analysts' estimates of $4.48, with a revenue of $44.91 billion for the quarter.
• Analysts have mixed ratings on JPMorgan Chase & Co., with one strong buy, thirteen buy, six hold, and three sell ratings, leading to an average target price of $288.68.

The Manufacturers Life Insurance Company cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,672,001 shares of the financial services provider's stock after selling 5,735 shares during the quarter. JPMorgan Chase & Co. comprises 0.6% of The Manufacturers Life Insurance Company's portfolio, making the stock its 26th biggest position. The Manufacturers Life Insurance Company owned about 0.10% of JPMorgan Chase & Co. worth $655,442,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Measured Risk Portfolios Inc. acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $54,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction of $1,608,416.16. Following the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

JPM traded up $0.39 on Friday, hitting $301.46. 6,790,292 shares of the company's stock were exchanged, compared to its average volume of 7,101,695. The firm has a market cap of $828.94 billion, a PE ratio of 15.47, a P/E/G ratio of 2.00 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $302.95. The stock has a fifty day moving average of $291.59 and a two-hundred day moving average of $265.26. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

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 for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.12 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research note on Friday, June 27th. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. Wells Fargo & Company boosted their target price 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. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. One equities research 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.