Hohimer Wealth Management LLC Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Hohimer Wealth Management LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 86.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,479 shares of the financial services provider’s stock after selling 34,249 shares during the quarter. Hohimer Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,108,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of JPM. Instrumental Wealth LLC lifted its position in JPMorgan Chase & Co. by 4.5% during the second quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 47 shares during the period. Gemmer Asset Management LLC raised its position in shares of JPMorgan Chase & Co. by 1.6% in the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 48 shares during the period. Great Point Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. Great Point Wealth Advisors LLC now owns 5,690 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 48 shares during the period. Northside Capital Management LLC raised its position in shares of JPMorgan Chase & Co. by 0.7% in the second quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after acquiring an additional 50 shares during the period. Finally, Highland Financial Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 0.7% in the second quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock worth $1,427,000 after acquiring an additional 50 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Robert W. Baird upped their price objective on shares of 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 objective 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. Oppenheimer boosted their target price 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, Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $211.44.

JPMorgan Chase & Co. Stock Down 5.2 %

Shares of NYSE JPM opened at $205.56 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The stock has a market cap of $590.30 billion, a PE ratio of 11.46, a P/E/G ratio of 2.39 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $211.41 and a 200 day moving average of $200.56.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (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 company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the prior year, the company earned $4.37 EPS. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

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.