Klingenstein Fields & Co. LP Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Klingenstein Fields & Co. LP lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 211,415 shares of the financial services provider’s stock after selling 1,644 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.8% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 15th biggest holding. Klingenstein Fields & Co. LP’s holdings in JPMorgan Chase & Co. were worth $42,761,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Retirement Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Anfield Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $34,000. Partnership Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $36,000. Finally, Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $37,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 2.4 %

Shares of JPM stock opened at $212.46 on Friday. The business has a 50-day moving average of $211.25 and a 200 day moving average of $200.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $225.48. The stock has a market capitalization of $610.11 billion, a PE ratio of 11.85, a P/E/G ratio of 2.62 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its 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. 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 for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter last year, the business earned $4.37 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on JPM shares. BMO Capital Markets boosted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Jefferies Financial Group boosted their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. UBS Group raised 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 note on Tuesday, May 21st. Oppenheimer boosted their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $211.44.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction dated 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 $42,355,358.10. The sale was disclosed in a legal filing with the SEC, which is accessible 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.