JPMorgan Chase & Co. (NYSE:JPM) is Lederer & Associates Investment Counsel CA’s 8th Largest Position

Lederer & Associates Investment Counsel CA cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.5% during the second quarter, HoldingsChannel reports. The fund owned 14,813 shares of the financial services provider’s stock after selling 1,200 shares during the quarter. JPMorgan Chase & Co. comprises about 2.2% of Lederer & Associates Investment Counsel CA’s holdings, making the stock its 8th largest position. Lederer & Associates Investment Counsel CA’s holdings in JPMorgan Chase & Co. were worth $2,996,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Fortis Capital Advisors LLC boosted its stake in JPMorgan Chase & Co. by 7.1% in the second quarter. Fortis Capital Advisors LLC now owns 7,501 shares of the financial services provider’s stock valued at $1,517,000 after acquiring an additional 500 shares in the last quarter. Cozad Asset Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 32.5% during the 2nd quarter. Cozad Asset Management Inc. now owns 12,320 shares of the financial services provider’s stock valued at $2,492,000 after purchasing an additional 3,022 shares during the last quarter. FSB Premier Wealth Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 17.3% in the 2nd quarter. FSB Premier Wealth Management Inc. now owns 10,431 shares of the financial services provider’s stock worth $2,110,000 after purchasing an additional 1,542 shares in the last quarter. Founders Financial Securities LLC grew its stake in JPMorgan Chase & Co. by 28.0% during the 2nd quarter. Founders Financial Securities LLC now owns 20,389 shares of the financial services provider’s stock worth $4,124,000 after buying an additional 4,456 shares during the last quarter. Finally, Naviter Wealth LLC increased its position in JPMorgan Chase & Co. by 0.3% during the 2nd quarter. Naviter Wealth LLC now owns 21,120 shares of the financial services provider’s stock valued at $4,272,000 after buying an additional 63 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Jefferies Financial Group upped their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Finally, Citigroup upped their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $211.44.

JPMorgan Chase & Co. Stock Down 2.4 %

Shares of JPM stock opened at $212.46 on Monday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The stock has a market cap of $610.11 billion, a P/E ratio of 11.85, a P/E/G ratio of 2.62 and a beta of 1.12. The stock has a 50 day moving average of $211.25 and a 200 day moving average of $200.17. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same period in the previous year, the firm earned $4.37 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

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.