JPMorgan Chase & Co. $JPM Stake Cut by Seven Mile Advisory

Seven Mile Advisory cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the first quarter, Holdings Channel reports. The firm owned 8,437 shares of the financial services provider’s stock after selling 131 shares during the period. JPMorgan Chase & Co. accounts for 1.4% of Seven Mile Advisory’s investment portfolio, making the stock its 15th largest holding. Seven Mile Advisory’s holdings in JPMorgan Chase & Co. were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Florida Financial Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock valued at $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $471,000. Crown Wealth Group LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after acquiring an additional 222 shares during the last quarter. Morse Asset Management Inc increased its holdings in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after acquiring an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 112 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.3%

JPM stock opened at $291.31 on Tuesday. The company has a market cap of $801.03 billion, a P/E ratio of 14.95, a PEG ratio of 1.93 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average of $286.92 and a 200-day moving average of $263.72.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.12 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company’s stock, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of analyst reports. TD Cowen initiated coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective on the stock. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the company an “outperform” rating in a report on Monday, June 30th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective on the stock. in a report on Friday, June 27th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, Morgan Stanley raised their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $288.68.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.