Tocqueville Asset Management L.P. Trims Position in JPMorgan Chase & Co. $JPM

Key Points

• Tocqueville Asset Management L.P. reduced its stake in JPMorgan Chase & Co. by 0.4%, holding 277,908 shares valued at $68.17 million, making it the firm's 16th largest holding.
• Several institutional investors, including Northern Trust Corp and GAMMA Investing LLC, significantly increased their holdings in JPMorgan, indicating strong investor interest.
• JPMorgan Chase recently reported earnings of $4.96 per share, surpassing expectations, and had a revenue of $44.91 billion for the quarter.

Tocqueville Asset Management L.P. lessened its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 277,908 shares of the financial services provider's stock after selling 1,131 shares during the period. JPMorgan Chase & Co. comprises 1.1% of Tocqueville Asset Management L.P.'s portfolio, making the stock its 16th largest holding. Tocqueville Asset Management L.P.'s holdings in JPMorgan Chase & Co. were worth $68,171,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Brighton Jones LLC increased its holdings in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after buying an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE increased its holdings in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after buying an additional 1,893 shares during the last quarter. KKM Financial LLC increased its holdings in JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after buying an additional 640 shares during the last quarter. Finally, Mach 1 Financial Group LLC increased its holdings in JPMorgan Chase & Co. by 10.8% during the fourth quarter. Mach 1 Financial Group LLC now owns 4,843 shares of the financial services provider's stock valued at $1,161,000 after buying an additional 474 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction on 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 completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded up $2.0240 during midday trading on Wednesday, reaching $292.6840. 4,654,519 shares of the company were exchanged, compared to its average volume of 9,847,693. 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 business's fifty day moving average is $287.35 and its two-hundred day moving average is $263.91. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29. The stock has a market cap of $804.81 billion, a PE ratio of 15.02, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the business earned $6.12 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on JPM. 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. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a 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 note on Wednesday, July 16th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective on the stock. Finally, Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.