JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Cypress Capital Group

Cypress Capital Group lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,278 shares of the financial services provider’s stock after selling 594 shares during the period. JPMorgan Chase & Co. makes up about 1.7% of Cypress Capital Group’s investment portfolio, making the stock its 11th biggest position. Cypress Capital Group’s holdings in JPMorgan Chase & Co. were worth $14,214,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Retirement Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $34,000. Bare Financial Services Inc acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $35,000. Partnership Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth $36,000. Finally, Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the first quarter worth $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 212,265 shares in the company, valued at approximately $42,355,358.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $220.18 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $220.42. The company has a 50 day moving average of $207.29 and a two-hundred day moving average of $197.47. The company has a market cap of $632.28 billion, a P/E ratio of 12.28, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a quick ratio of 0.92, a current 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 business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the previous year, the business posted $4.37 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent research reports. Barclays lifted their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Jefferies Financial Group boosted their price objective on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada restated an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Oppenheimer boosted their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

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.