JPMorgan Chase & Co. (NYSE:JPM) Stake Lowered by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the 2nd quarter, Holdings Channel reports. The firm owned 44,566 shares of the financial services provider’s stock after selling 201 shares during the quarter. JPMorgan Chase & Co. comprises approximately 2.1% of Mcrae Capital Management Inc.’s holdings, making the stock its 22nd biggest position. Mcrae Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $9,014,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wellington Wealth Strategies LLC. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $1,145,000. Cooper Financial Group grew its holdings in JPMorgan Chase & Co. by 12.8% in the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 984 shares in the last quarter. Spartan Planning & Wealth Management grew its holdings in JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after buying an additional 2,722 shares in the last quarter. jvl associates llc grew its holdings in JPMorgan Chase & Co. by 59.8% in the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after buying an additional 715 shares in the last quarter. Finally, MMA Asset Management LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $207,000. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

JPM has been the subject of a number of recent analyst reports. Robert W. Baird increased their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Keefe, Bruyette & Woods increased their price objective 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. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. UBS Group increased their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Jefferies Financial Group increased their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.71.

Insider Activity

In other news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the sale, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $218.31 on Friday. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $219.19. The stock has a fifty day moving average of $206.81 and a 200-day moving average of $197.01. The company has a market capitalization of $626.91 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the prior year, the firm earned $4.37 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS 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.