Ingalls & Snyder LLC Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Ingalls & Snyder LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 230,863 shares of the financial services provider’s stock after selling 4,872 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.0% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 9th largest position. Ingalls & Snyder LLC’s holdings in JPMorgan Chase & Co. were worth $46,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $6,016,878,000. Swedbank AB bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $800,130,000. Capital Research Global Investors increased its holdings in shares of JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Capital International Investors increased its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of JPMorgan Chase & Co. by 3,836.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after buying an additional 1,480,379 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 0.4 %

JPM stock opened at $219.33 on Thursday. The company has a market cap of $629.84 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.62 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The firm has a 50-day moving average of $210.67 and a two-hundred day moving average of $199.54.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for 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 company earned $4.37 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction 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 transaction, the insider now 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 accessible through this hyperlink. 0.79% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on JPM shares. Barclays raised their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. BMO Capital Markets lifted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Citigroup lifted their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

JPMorgan Chase & Co. 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.