Davis Selected Advisers Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Davis Selected Advisers decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 53.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 657,723 shares of the financial services provider’s stock after selling 741,805 shares during the quarter. JPMorgan Chase & Co. comprises about 0.9% of Davis Selected Advisers’ investment portfolio, making the stock its 25th biggest holding. Davis Selected Advisers’ holdings in JPMorgan Chase & Co. were worth $157,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Mizuho Securities Co. Ltd. purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth $25,000. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $43,000. Peterson Financial Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth $45,000. Legacy Investment Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. in the third quarter worth $45,000. Finally, Collier Financial purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $45,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the sale, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,326 shares of company stock worth $12,448,445. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $232.94 on Monday. The stock’s 50-day simple moving average is $258.29 and its 200-day simple moving average is $238.95. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The company has a market capitalization of $651.31 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.04 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JPM. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. UBS Group boosted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday, January 3rd. Bank of America lifted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Barclays lifted their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $252.89.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.