United Asset Strategies Inc. Sells 11,003 Shares of JPMorgan Chase & Co. $JPM

Key Points

• United Asset Strategies Inc. reduced its stake in JPMorgan Chase & Co. by 13.6%, selling 11,003 shares to maintain a total of 69,848 shares, valued at approximately $17.1 million.
• Various institutional investors are actively changing their positions in JPMorgan, with Partners Capital Investment Group LLP increasing its stake by 90.6% in the 1st quarter.
• Despite a decline in earnings compared to last year, JPMorgan Chase reported a strong quarterly performance, with earnings per share surpassing analysts' expectations at $4.96.

United Asset Strategies Inc. lessened its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,848 shares of the financial services provider's stock after selling 11,003 shares during the quarter. JPMorgan Chase & Co. accounts for 1.6% of United Asset Strategies Inc.'s portfolio, making the stock its 12th largest position. United Asset Strategies Inc.'s holdings in JPMorgan Chase & Co. were worth $17,134,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Kaufman Rossin Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $223,000. Partners Capital Investment Group LLP increased its stake in JPMorgan Chase & Co. by 90.6% in the 1st quarter. Partners Capital Investment Group LLP now owns 40,093 shares of the financial services provider's stock worth $9,835,000 after buying an additional 19,060 shares during the period. Accredited Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 24.4% in the 1st quarter. Accredited Wealth Management LLC now owns 4,123 shares of the financial services provider's stock worth $1,011,000 after buying an additional 808 shares during the period. Elevate Wealth Advisory Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth about $207,000. Finally, PGIM Custom Harvest LLC increased its stake in JPMorgan Chase & Co. by 10.6% in the 1st quarter. PGIM Custom Harvest LLC now owns 13,811 shares of the financial services provider's stock worth $3,388,000 after buying an additional 1,320 shares during the period. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Bank of America raised their price target 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. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Finally, TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Trading Down 0.4%

NYSE JPM opened at $291.0580 on Friday. 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 company has a market capitalization of $800.34 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. The company's 50-day simple moving average is $288.29 and its two-hundred day simple moving average is $264.27. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the business earned $6.12 EPS. The company's revenue was down 10.5% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. 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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