W.G. Shaheen & Associates DBA Whitney & Co Sells 2,465 Shares of JPMorgan Chase & Co. (NYSE:JPM)

W.G. Shaheen & Associates DBA Whitney & Co lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 103,673 shares of the financial services provider’s stock after selling 2,465 shares during the quarter. JPMorgan Chase & Co. comprises about 2.4% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 9th largest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in JPMorgan Chase & Co. were worth $20,969,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of JPM. Retirement Group LLC grew its position 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 valued at $31,000 after purchasing an additional 109 shares during the last quarter. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Bare Financial Services Inc bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $35,000. Partnership Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $36,000. Finally, Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $37,000. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. 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 research note on Monday, July 15th. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Morgan Stanley raised their price target on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $219.33 on Thursday. The firm’s fifty day moving average price is $210.67 and its two-hundred day moving average price is $199.54. The stock has a market cap of $629.84 billion, a PE ratio of 12.23, a PEG ratio of 2.62 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the previous year, the company posted $4.37 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

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 shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.

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.