Greylin Investment Management Inc Sells 300 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Greylin Investment Management Inc cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,625 shares of the financial services provider’s stock after selling 300 shares during the quarter. Greylin Investment Management Inc’s holdings in JPMorgan Chase & Co. were worth $1,138,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JPM. Stone House Investment Management LLC increased its stake in JPMorgan Chase & Co. by 132.8% in the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the period. Retirement Group LLC increased its stake in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $34,000. Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $40,000. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI boosted 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. Oppenheimer increased their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

JPMorgan Chase & Co. Stock Up 0.5 %

Shares of JPM stock traded up $1.10 during trading hours on Monday, hitting $215.07. 1,353,837 shares of the company’s stock traded hands, compared to its average volume of 9,171,632. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $204.67 and its two-hundred day simple moving average is $195.71. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $217.56. The stock has a market cap of $617.61 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating 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 business 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 business earned $4.37 earnings per share. On average, analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

Insider Buying and Selling

In other news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the transaction, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.79% of the stock is currently owned by company insiders.

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; 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.