Southern Capital Advisors LLC Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Southern Capital Advisors LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,375 shares of the financial services provider’s stock after selling 62 shares during the quarter. Southern Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $278,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in JPM. Retirement Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the period. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth about $34,000. Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $37,000. Kathleen S. Wright Associates Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $40,000. Finally, Bare Financial Services Inc purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $35,000. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on JPM. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Citigroup increased their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. UBS Group raised their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Eight equities research 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, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now directly owns 212,265 shares in the company, valued at $42,355,358.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.8 %

Shares of JPM stock opened at $218.31 on Monday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $219.19. The firm has a 50-day moving average price of $206.81 and a 200 day moving average price of $197.16. The company has a market capitalization of $626.91 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 2.42 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter last year, the firm earned $4.37 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

About JPMorgan Chase & Co.

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 deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.