JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Weitz Investment Management Inc.

Weitz Investment Management Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,000 shares of the financial services provider’s stock after selling 22,500 shares during the quarter. Weitz Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $24,886,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in JPM. Bellwether Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 288.3% in the 1st quarter. Bellwether Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 271 shares in the last quarter. Goodwin Investment Advisory acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $70,000. Stuart Chaussee & Associates Inc. raised its holdings in shares of JPMorgan Chase & Co. by 18.0% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 550 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 84 shares in the last quarter. Financial Avengers Inc. raised its holdings in shares of JPMorgan Chase & Co. by 21.6% in the 1st quarter. Financial Avengers Inc. now owns 552 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 98 shares in the last quarter. Finally, Lake Point Wealth Management purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $109,000. Institutional investors and hedge funds own 69.67% of the company’s stock.

JPM traded down $0.08 during midday trading on Wednesday, reaching $156.99. 214,205 shares of the company’s stock were exchanged, compared to its average volume of 13,698,431. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $469.11 billion, a PE ratio of 10.44, a P/E/G ratio of 2.24 and a beta of 1.20. The business’s 50-day moving average price is $156.08 and its 200 day moving average price is $156.05. JPMorgan Chase & Co. has a 1-year low of $91.38 and a 1-year high of $167.44.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Monday, July 12th. The financial services provider reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.69. The company had revenue of $30.50 billion during the quarter, compared to analysts’ expectations of $29.71 billion. JPMorgan Chase & Co. had a net margin of 37.71% and a return on equity of 19.26%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 14.05 EPS for the current fiscal year.

A number of research analysts recently commented on JPM shares. Credit Suisse Group set a $177.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, August 23rd. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $136.00 to $141.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 14th. Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $150.00 to $166.00 and gave the stock an “underweight” rating in a research report on Thursday, July 29th. Barclays set a $187.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 14th. Finally, Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $167.06.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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