Federated Hermes Inc. Sells 158,567 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Federated Hermes Inc. reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 25.4% in the second quarter, Holdings Channel reports. The fund owned 466,259 shares of the financial services provider’s stock after selling 158,567 shares during the quarter. Federated Hermes Inc.’s holdings in JPMorgan Chase & Co. were worth $94,306,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth $6,016,878,000. Swedbank AB purchased a new position in JPMorgan Chase & Co. during the first quarter worth $800,130,000. Capital Research Global Investors boosted its stake in JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after buying an additional 3,252,451 shares during the period. Capital International Investors boosted its stake in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after buying an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its stake in JPMorgan Chase & Co. by 3,836.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after buying an additional 1,480,379 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $209.50 on Wednesday. The company has a market capitalization of $601.61 billion, a PE ratio of 11.68, a P/E/G ratio of 2.33 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50-day simple moving average of $211.43 and a two-hundred day simple moving average of $201.36. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $4.37 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on JPM shares. Morgan Stanley dropped their price objective on shares of JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Oppenheimer lifted their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.06.

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.