Spire Wealth Management Has $19.90 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Spire Wealth Management reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 98,481 shares of the financial services provider’s stock after selling 10,466 shares during the quarter. JPMorgan Chase & Co. makes up 0.7% of Spire Wealth Management’s investment portfolio, making the stock its 29th largest holding. Spire Wealth Management’s holdings in JPMorgan Chase & Co. were worth $19,901,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors lifted its holdings in shares of JPMorgan Chase & Co. by 1.9% during 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 bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $6,016,878,000. Capital World Investors increased its position in shares of JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after purchasing an additional 150,812 shares during the period. Dimensional Fund Advisors LP increased its position in shares of JPMorgan Chase & Co. by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after purchasing an additional 695,502 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of JPMorgan Chase & Co. by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock valued at $3,389,329,000 after purchasing an additional 154,426 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

JPMorgan Chase & Co. Trading Down 0.4 %

Shares of JPM opened at $219.33 on Thursday. 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. has a 12-month low of $135.19 and a 12-month high of $225.48. The firm has a market capitalization of $629.84 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The stock’s fifty day simple moving average is $210.67 and its 200-day simple moving average is $199.54.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly 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 return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the prior year, the firm posted $4.37 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JPM shares. Robert W. Baird boosted their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. UBS Group boosted their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. BMO Capital Markets upped their price target 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. Oppenheimer upped their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Citigroup upped their price target 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.35.

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.