FUKOKU MUTUAL LIFE INSURANCE Co lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,871 shares of the financial services provider’s stock after selling 400 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in JPMorgan Chase & Co. were worth $9,265,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Personal Wealth Partners bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth $28,000. Global Trust Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 2,027.2% during the second quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 5,068 shares during the last quarter. Smart Portfolios LLC grew its position in shares of JPMorgan Chase & Co. by 29.6% during the fourth quarter. Smart Portfolios LLC now owns 499 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 114 shares during the last quarter. Semmax Financial Advisors Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $56,000. Finally, Sound Income Strategies LLC lifted its position in JPMorgan Chase & Co. by 126.7% in the 2nd quarter. Sound Income Strategies LLC now owns 510 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 285 shares during the last quarter. Hedge funds and other institutional investors own 72.23% of the company’s stock.
In other news, EVP Peter Scher sold 10,816 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $115.00, for a total value of $1,243,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lori A. Beer sold 13,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the transaction, the insider now directly owns 10,130 shares in the company, valued at $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.
JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The firm had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.52 billion. During the same quarter last year, the business posted $2.29 EPS. JPMorgan Chase & Co.’s revenue was up 3.9% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 9.91 EPS for the current year.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $117.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 22nd. Deutsche Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. ValuEngine upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley set a $122.00 price target on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 9th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $121.94.
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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