United Services Automobile Association Trims Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• United Services Automobile Association reduced its holdings in JPMorgan Chase & Co. by 75.4% during the 1st quarter, retaining only 65,584 shares worth approximately $15.9 million.
• JPMorgan reported earnings of $4.96 per share for the last quarter, surpassing estimates, but experienced a 10.5% decline in quarterly revenue year-over-year.
• Several analysts have issued mixed ratings for JPMorgan's stock, with a consensus rating of "Moderate Buy" and a price target around $291.67.

United Services Automobile Association decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 75.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,584 shares of the financial services provider's stock after selling 200,503 shares during the quarter. United Services Automobile Association's holdings in JPMorgan Chase & Co. were worth $15,927,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $30,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $54,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $294.79 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $305.15. The stock has a market cap of $810.59 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. The firm's fifty day simple moving average is $293.16 and its 200-day simple moving average is $266.02.

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, beating the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business posted $6.12 EPS. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on JPM shares. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $291.67.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.