ACT Wealth Management LLC Sells 161 Shares of JPMorgan Chase & Co. (NYSE:JPM)

ACT Wealth Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,625 shares of the financial services provider’s stock after selling 161 shares during the period. JPMorgan Chase & Co. makes up 0.2% of ACT Wealth Management LLC’s investment portfolio, making the stock its 23rd largest position. ACT Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $296,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $4,092,843,000. Vanguard Group Inc. raised its position in shares of JPMorgan Chase & Co. by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 266,854,574 shares of the financial services provider’s stock worth $36,377,615,000 after purchasing an additional 6,792,220 shares during the last quarter. GQG Partners LLC raised its position in shares of JPMorgan Chase & Co. by 403.3% in the 4th quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider’s stock worth $806,728,000 after purchasing an additional 4,083,231 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of JPMorgan Chase & Co. by 7,427.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after purchasing an additional 2,628,701 shares during the last quarter. Finally, State Street Corp raised its position in shares of JPMorgan Chase & Co. by 1.6% in the 4th quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock worth $22,441,376,000 after purchasing an additional 2,277,065 shares during the last quarter. Institutional investors own 68.57% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.7 %

Shares of NYSE:JPM opened at $117.08 on Monday. The stock has a 50 day moving average of $115.85 and a 200 day moving average of $122.63. The company has a market cap of $343.35 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.14. JPMorgan Chase & Co. has a 12-month low of $106.06 and a 12-month high of $172.96.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, hitting the consensus estimate of $2.76. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The business had revenue of $30.72 billion during the quarter, compared to the consensus estimate of $31.82 billion. During the same period in the prior year, the company posted $3.78 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 11.32 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on JPM shares. Piper Sandler decreased their target price on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. Berenberg Bank raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 target price for the company in a research report on Monday, July 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $148.00 target price (up previously from $142.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 24th. Morgan Stanley decreased their target price on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating for the company in a research report on Tuesday, July 12th. Finally, Credit Suisse Group set a $145.00 target price on JPMorgan Chase & Co. in a research report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $145.95.

JPMorgan Chase & Co. Profile

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JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

Further Reading

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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