Legato Capital Management LLC Sells 6,745 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Legato Capital Management LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 31.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 14,720 shares of the financial services provider’s stock after selling 6,745 shares during the quarter. Legato Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,977,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Retirement Group LLC raised 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 purchasing an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $34,000. Bare Financial Services Inc purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $35,000. Partnership Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $36,000. Finally, Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.5 %

JPM opened at $221.29 on Thursday. The stock has a market cap of $635.47 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. The firm’s fifty day moving average is $207.75 and its 200 day moving average is $197.79. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $222.21.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating 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 the consensus estimate of $42.23 billion. During the same period in the previous year, the business earned $4.37 earnings per share. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on JPM shares. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Jefferies Financial Group upped their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, Evercore ISI raised their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Eight 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.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $205.71.

Insider Buying and Selling

In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is owned by insiders.

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.