World Equity Group Inc. Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

World Equity Group Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,442 shares of the financial services provider’s stock after selling 3,831 shares during the period. JPMorgan Chase & Co. accounts for 0.9% of World Equity Group Inc.’s investment portfolio, making the stock its 22nd largest position. World Equity Group Inc.’s holdings in JPMorgan Chase & Co. were worth $2,921,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in JPM. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $6,016,878,000. Swedbank AB purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $800,130,000. Capital Research Global Investors lifted its holdings in JPMorgan Chase & Co. by 23.3% during the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Capital International Investors raised its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after acquiring an additional 2,128,478 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of JPMorgan Chase & Co. by 3,836.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after acquiring an additional 1,480,379 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPM opened at $213.97 on Monday. The stock’s 50 day simple moving average is $204.67 and its 200 day simple moving average is $195.71. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $217.56. The firm has a market cap of $614.45 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period last year, the company earned $4.37 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent analyst reports. Piper Sandler raised their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Evercore ISI raised their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Barclays raised their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Citigroup raised their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $205.71.

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, 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.