JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Summit Global Investments

Summit Global Investments decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 34.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,219 shares of the financial services provider’s stock after selling 8,587 shares during the quarter. Summit Global Investments’ holdings in JPMorgan Chase & Co. were worth $3,280,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC boosted its position in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 89 shares during the period. Retirement Group LLC raised its stake in JPMorgan Chase & Co. by 227.1% during the 1st 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 bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $34,000. Davidson Capital Management Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $40,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2 %

NYSE JPM traded down $0.45 on Wednesday, reaching $214.07. The stock had a trading volume of 2,873,675 shares, compared to its average volume of 9,140,002. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $217.56. The business has a 50 day moving average price of $205.39 and a 200 day moving average price of $196.28. The company has a market capitalization of $614.74 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the previous year, the firm earned $4.37 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on JPM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Jefferies Financial Group boosted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Robert W. Baird boosted their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

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.