Easterly Investment Partners LLC Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Easterly Investment Partners LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,622 shares of the financial services provider’s stock after selling 7,677 shares during the quarter. JPMorgan Chase & Co. accounts for 2.2% of Easterly Investment Partners LLC’s portfolio, making the stock its 3rd largest position. Easterly Investment Partners LLC’s holdings in JPMorgan Chase & Co. were worth $24,599,000 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 stock. Retirement Group LLC grew its position in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. in the first quarter worth $37,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $40,000. Finally, Bare Financial Services Inc bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $35,000. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley upped 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 report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Wells Fargo & Company upped 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 investment 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $220.18 on Wednesday. The company has a fifty day moving average price of $207.29 and a 200 day moving average price of $197.47. The firm has a market cap of $632.28 billion, a PE ratio of 12.28, a PEG ratio of 2.42 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $220.42.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results 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. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the previous year, the company posted $4.37 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.