Citadel Investment Advisory Inc. Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Citadel Investment Advisory Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,961 shares of the financial services provider’s stock after selling 150 shares during the quarter. JPMorgan Chase & Co. makes up about 0.8% of Citadel Investment Advisory Inc.’s holdings, making the stock its 26th biggest holding. Citadel Investment Advisory Inc.’s holdings in JPMorgan Chase & Co. were worth $1,303,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Crew Capital Management Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 7.2% during the first quarter. Crew Capital Management Ltd. now owns 6,286 shares of the financial services provider’s stock valued at $819,000 after purchasing an additional 424 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of JPMorgan Chase & Co. by 46.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 43,526 shares of the financial services provider’s stock worth $5,612,000 after acquiring an additional 13,792 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its holdings in shares of JPMorgan Chase & Co. by 3.4% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 29,711 shares of the financial services provider’s stock valued at $3,872,000 after acquiring an additional 984 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.5% during the first quarter. Janney Montgomery Scott LLC now owns 1,723,422 shares of the financial services provider’s stock valued at $224,579,000 after acquiring an additional 26,285 shares in the last quarter. Finally, Athena Investment Management raised its position in shares of JPMorgan Chase & Co. by 0.9% in the 4th quarter. Athena Investment Management now owns 28,247 shares of the financial services provider’s stock worth $3,788,000 after purchasing an additional 244 shares during the last quarter. 68.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $165.00 in a research note on Tuesday, July 11th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Friday, July 7th. Societe Generale downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a research note on Monday, July 17th. Finally, Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $174.00 to $180.00 in a research note on Monday, July 17th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $167.21.

Insider Activity

In related news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the transaction, the general counsel now owns 53,425 shares in the company, valued at $7,739,145.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.2 %

Shares of JPM stock opened at $149.12 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day simple moving average of $150.88 and a two-hundred day simple moving average of $141.59. The firm has a market capitalization of $433.35 billion, a PE ratio of 9.60, a PEG ratio of 1.92 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.75. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The firm had revenue of $42.40 billion during the quarter, compared to analysts’ expectations of $38.66 billion. During the same quarter last year, the business posted $2.76 earnings per share. The firm’s revenue was up 34.1% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post 15.58 EPS for the current fiscal year.

About JPMorgan Chase & Co.

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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.