Masso Torrence Wealth Management Inc. Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Masso Torrence Wealth Management Inc. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,836 shares of the financial services provider’s stock after selling 906 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,151,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Moreno Evelyn V boosted its position in shares of JPMorgan Chase & Co. by 0.3% in the 1st quarter. Moreno Evelyn V now owns 77,473 shares of the financial services provider’s stock worth $10,096,000 after purchasing an additional 258 shares in the last quarter. Fortress Wealth Group LLC boosted its position in shares of JPMorgan Chase & Co. by 12.6% in the 1st quarter. Fortress Wealth Group LLC now owns 9,019 shares of the financial services provider’s stock worth $1,175,000 after purchasing an additional 1,008 shares in the last quarter. LaSalle St. Investment Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $270,000. Epoch Investment Partners Inc. boosted its position in shares of JPMorgan Chase & Co. by 5.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,631,978 shares of the financial services provider’s stock worth $212,663,000 after purchasing an additional 82,846 shares in the last quarter. Finally, Oxford Financial Group Ltd. boosted its position in shares of JPMorgan Chase & Co. by 0.3% in the 1st quarter. Oxford Financial Group Ltd. now owns 38,972 shares of the financial services provider’s stock worth $5,078,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $157.16, for a total transaction of $677,359.60. Following the transaction, the general counsel now owns 57,735 shares of the company’s stock, valued at approximately $9,073,632.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,871 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $140.70, for a total value of $263,249.70. Following the transaction, the chief executive officer now owns 22,926 shares of the company’s stock, valued at approximately $3,225,688.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $157.16, for a total value of $677,359.60. Following the completion of the transaction, the general counsel now directly owns 57,735 shares in the company, valued at approximately $9,073,632.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,593 shares of company stock valued at $1,992,388. 0.79% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

JPM has been the topic of several analyst reports. Barclays upped their price objective on JPMorgan Chase & Co. from $179.00 to $182.00 in a research report on Sunday, July 16th. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $158.00 to $168.00 in a research report on Monday, July 17th. Morgan Stanley upped their price objective on JPMorgan Chase & Co. from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. StockNews.com initiated coverage on JPMorgan Chase & Co. in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Friday, July 7th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.89.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded down $1.16 during trading hours on Tuesday, reaching $145.66. The stock had a trading volume of 3,239,868 shares, compared to its average volume of 11,446,189. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.90 and a current ratio of 0.90. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $159.38. The company has a 50 day moving average price of $150.45 and a two-hundred day moving average price of $141.29. The stock has a market capitalization of $423.30 billion, a PE ratio of 9.38, a PEG ratio of 1.89 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The business had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.66 billion. During the same quarter in the previous year, the company posted $2.76 EPS. The company’s revenue was up 34.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 15.57 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.