JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,889 shares of the financial services provider’s stock after selling 972 shares during the period. JPMorgan Chase & Co. accounts for about 1.8% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 8th biggest holding. Parsons Capital Management Inc. RI’s holdings in JPMorgan Chase & Co. were worth $16,199,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Bedel Financial Consulting Inc. lifted its position in JPMorgan Chase & Co. by 9.8% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 28,982 shares of the financial services provider’s stock worth $3,240,000 after acquiring an additional 2,594 shares during the last quarter. Cullen Frost Bankers Inc. lifted its position in JPMorgan Chase & Co. by 13.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 382,713 shares of the financial services provider’s stock worth $42,787,000 after acquiring an additional 44,149 shares during the last quarter. FinTrust Capital Advisors LLC lifted its position in JPMorgan Chase & Co. by 5.3% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 15,144 shares of the financial services provider’s stock worth $1,693,000 after acquiring an additional 759 shares during the last quarter. Kavar Capital Partners LLC lifted its position in JPMorgan Chase & Co. by 3.0% during the 2nd quarter. Kavar Capital Partners LLC now owns 16,941 shares of the financial services provider’s stock worth $1,894,000 after acquiring an additional 494 shares during the last quarter. Finally, Watch Point Trust Co lifted its position in JPMorgan Chase & Co. by 17.0% during the 2nd quarter. Watch Point Trust Co now owns 46,282 shares of the financial services provider’s stock worth $5,175,000 after acquiring an additional 6,735 shares during the last quarter. 72.31% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have weighed in on the stock. Goldman Sachs Group reissued a “neutral” rating and set a $117.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 22nd. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Wells Fargo & Co set a $125.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, August 16th. ValuEngine lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley set a $122.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $121.94.

Shares of JPM opened at $107.61 on Thursday. The company has a 50-day simple moving average of $112.30 and a 200-day simple moving average of $108.95. The firm has a market capitalization of $347.53 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.56 and a beta of 1.16. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. JPMorgan Chase & Co. has a 52 week low of $91.11 and a 52 week high of $119.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 EPS for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.32. JPMorgan Chase & Co. had a net margin of 24.73% and a return on equity of 14.40%. The business had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.52 billion. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 9.91 earnings per share for the current year.

In other JPMorgan Chase & Co. news, EVP Peter Scher sold 10,816 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $115.00, for a total transaction of $1,243,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lori A. Beer sold 13,341 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the transaction, the insider now owns 10,130 shares of the company’s stock, valued at approximately $1,157,656.40. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.

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

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