Cutter & CO Brokerage Inc. Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Cutter & CO Brokerage Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,623 shares of the financial services provider’s stock after selling 266 shares during the period. Cutter & CO Brokerage Inc.’s holdings in JPMorgan Chase & Co. were worth $935,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter worth about $34,000. Bare Financial Services Inc purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $35,000. Finally, Partnership Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on 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 completion of 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 legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, July 15th. BMO Capital Markets boosted 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 report on Thursday, July 11th. Finally, Morgan Stanley lifted their target price on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $208.35.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $219.33 on Thursday. The firm has a 50 day simple moving average of $210.67 and a 200-day simple moving average of $199.54. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $629.84 billion, a PE ratio of 12.23, a P/E/G ratio of 2.62 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the previous year, the business posted $4.37 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current 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.