Granite Bay Wealth Management LLC Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

Granite Bay Wealth Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,843 shares of the financial services provider’s stock after selling 42 shares during the period. JPMorgan Chase & Co. accounts for 2.3% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. Granite Bay Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $30,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $33,000. Capital A Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $64,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $72,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JPM. HSBC reissued a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Monday, July 7th. TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Phillip Securities downgraded JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Finally, Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $291.67.

JPMorgan Chase & Co. Trading Up 0.8%

NYSE:JPM opened at $309.38 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $309.95. The business’s 50-day simple moving average is $294.29 and its 200 day simple moving average is $267.75. The stock has a market cap of $850.72 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter in the prior year, the firm posted $6.12 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

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.