Stonnington Group LLC Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Stonnington Group LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 11.3% in the second quarter, Holdings Channel reports. The institutional investor owned 10,914 shares of the financial services provider’s stock after selling 1,384 shares during the period. Stonnington Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,252,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Norges Bank purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $4,092,843,000. Vanguard Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.6% during the first 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 in the last quarter. GQG Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 403.3% during the fourth 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of JPMorgan Chase & Co. by 7,427.6% during the first 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 in the last quarter. Finally, State Street Corp increased its stake in shares of JPMorgan Chase & Co. by 1.6% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 68.57% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $117.08 on Monday. JPMorgan Chase & Co. has a 52 week low of $106.06 and a 52 week high of $172.96. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.14. The stock has a market cap of $343.35 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 2.07 and a beta of 1.10. The company has a 50-day moving average price of $115.85 and a two-hundred day moving average price of $122.63.

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

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Berenberg Bank upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 price target on the stock in a research report on Monday, July 18th. Evercore ISI lowered their price target on shares of JPMorgan Chase & Co. from $135.00 to $125.00 in a research report on Friday, July 15th. Societe Generale upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their target price for the company from $145.00 to $150.00 in a report on Tuesday, May 24th. Citigroup upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating and decreased their target price for the company from $145.00 to $135.00 in a report on Tuesday, July 12th. Finally, Piper Sandler decreased their target price on shares of JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $145.95.

About JPMorgan Chase & Co.

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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.

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

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