JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Washington Trust Bank

Washington Trust Bank cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 107,768 shares of the financial services provider’s stock after selling 2,106 shares during the period. JPMorgan Chase & Co. accounts for 2.2% of Washington Trust Bank’s holdings, making the stock its 10th biggest holding. Washington Trust Bank’s holdings in JPMorgan Chase & Co. were worth $21,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in JPM. Capital International Investors increased its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares during the period. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $6,016,878,000. Capital World Investors increased its stake in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after purchasing an additional 150,812 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of JPMorgan Chase & Co. by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after purchasing an additional 695,502 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock valued at $3,389,329,000 after buying an additional 154,426 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the transaction, the insider now directly 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 is accessible through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $224.80 on Monday. The stock’s fifty day simple moving average is $209.28 and its 200 day simple moving average is $198.79. The stock has a market capitalization of $645.55 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.62 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during 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 quarter last year, the company posted $4.37 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JPM has been the subject of a number of recent analyst reports. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Royal Bank of Canada restated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Finally, Morgan Stanley upped their price target 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. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.