Summit Securities Group LLC Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Summit Securities Group LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 47.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the financial services provider’s stock after selling 1,100 shares during the period. Summit Securities Group LLC’s holdings in JPMorgan Chase & Co. were worth $243,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $55,033,000. GUNN & Co INVESTMENT MANAGEMENT INC. grew its stake in 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 valued at $65,703,000 after purchasing an additional 356,596 shares in the last quarter. NewSquare Capital LLC increased its holdings in JPMorgan Chase & Co. by 1.8% during the 4th quarter. NewSquare Capital LLC now owns 76,105 shares of the financial services provider’s stock worth $12,823,000 after purchasing an additional 1,356 shares during the last quarter. Arbor Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $530,000. Finally, Fountainhead AM LLC boosted its stake in shares of JPMorgan Chase & Co. by 7.5% during the 4th quarter. Fountainhead AM LLC now owns 3,246 shares of the financial services provider’s stock valued at $552,000 after buying an additional 226 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 shares were 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 of the company’s stock, valued at approximately $42,355,358.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $221.29 on Thursday. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $222.21. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The stock has a market cap of $635.47 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The company’s 50-day moving average price is $207.75 and its two-hundred day moving average price is $197.79.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the previous year, the business posted $4.37 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. Piper Sandler increased 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. Robert W. Baird lifted their target price on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Morgan Stanley upped their price target on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

JPMorgan Chase & Co. Company 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.