Sarasin & Partners LLP Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Sarasin & Partners LLP lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 18.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 622,900 shares of the financial services provider’s stock after selling 143,700 shares during the period. Sarasin & Partners LLP’s holdings in JPMorgan Chase & Co. were worth $90,595,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. Moneta Group Investment Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 105,652.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after purchasing an additional 97,907,897 shares during the period. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $3,894,646,000. Price T Rowe Associates Inc. MD raised its holdings in shares of JPMorgan Chase & Co. by 71.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after purchasing an additional 12,654,947 shares during the period. Morgan Stanley raised its holdings in shares of JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares during the period. Finally, Providence Capital Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 13,205.6% in the 1st quarter. Providence Capital Advisors LLC now owns 5,395,818 shares of the financial services provider’s stock worth $41,407,000 after purchasing an additional 5,355,265 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.2 %

JPM opened at $149.12 on Tuesday. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $159.38. The company has a fifty day moving average price of $150.88 and a 200-day moving average price of $141.59. The firm has a market capitalization of $433.35 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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 net margin of 23.45% and a return on equity of 17.29%. The company had revenue of $42.40 billion during the quarter, compared to analyst estimates of $38.66 billion. During the same period in the previous year, the business earned $2.76 earnings per share. The firm’s quarterly revenue was up 34.1% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 15.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction dated 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 sale, the general counsel now directly owns 53,425 shares in the company, valued at $7,739,145.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research reports. 888 reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 26th. Credit Suisse Group boosted their target price on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a report on Monday, July 17th. Societe Generale cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Citigroup cut shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Wednesday, July 12th. Finally, Atlantic Securities boosted their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Tuesday, August 1st. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.21.

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.