Salomon & Ludwin LLC Sells 2,519 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Salomon & Ludwin LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 40.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,656 shares of the financial services provider’s stock after selling 2,519 shares during the period. Salomon & Ludwin LLC’s holdings in JPMorgan Chase & Co. were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $55,033,000. Tennessee Valley Asset Management Partners lifted its stake in JPMorgan Chase & Co. by 2.3% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 6,550 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 150 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its holdings in shares of JPMorgan Chase & Co. by 1,202.2% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 386,259 shares of the financial services provider’s stock worth $65,703,000 after buying an additional 356,596 shares in the last quarter. Gimbal Financial acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $302,000. Finally, Aspire Private Capital LLC increased its stake in shares of JPMorgan Chase & Co. by 715.0% in the 4th quarter. Aspire Private Capital LLC now owns 3,806 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 3,339 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. UBS Group boosted their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Piper Sandler upped their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.71.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the transaction, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $220.18 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The firm has a 50-day moving average of $207.29 and a 200-day moving average of $197.47. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $220.42. 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.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the business posted $4.37 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

About JPMorgan Chase & Co.

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.