Ascent Wealth Partners LLC Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Ascent Wealth Partners LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,640 shares of the financial services provider’s stock after selling 503 shares during the period. JPMorgan Chase & Co. accounts for 1.5% of Ascent Wealth Partners LLC’s holdings, making the stock its 13th biggest position. Ascent Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $10,445,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital International Investors raised its holdings in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after buying an additional 778,297 shares during the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $6,016,878,000. Capital World Investors raised its holdings in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after buying an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of JPMorgan Chase & Co. by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock worth $3,629,757,000 after buying an additional 695,502 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock worth $3,389,329,000 after buying an additional 154,426 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.4 %

Shares of NYSE JPM opened at $219.33 on Thursday. The company’s 50-day simple moving average is $210.67 and its 200-day simple moving average is $199.54. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The firm has a market cap of $629.84 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

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

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of research reports. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Jefferies Financial Group increased their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Nine investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity

In other news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.