AGF Management Ltd. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

AGF Management Ltd. decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 564,222 shares of the financial services provider’s stock after selling 16,432 shares during the period. AGF Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $114,120,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $6,016,878,000. Swedbank AB acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $800,130,000. Capital Research Global Investors increased 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 during the last quarter. Capital International Investors raised its position 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 purchasing an additional 2,128,478 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position 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 purchasing an additional 1,480,379 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of several recent analyst reports. Citigroup upped their price target 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. Oppenheimer increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley lowered their price objective on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, UBS Group lifted their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $207.86 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average of $211.40 and a two-hundred day moving average of $201.19. The company has a market capitalization of $596.90 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results 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. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the prior year, the business earned $4.37 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. 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.