Morris Financial Concepts Inc. Sells 111 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Morris Financial Concepts Inc. reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,604 shares of the financial services provider’s stock after selling 111 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.9% of Morris Financial Concepts Inc.’s holdings, making the stock its 18th biggest position. Morris Financial Concepts Inc.’s holdings in JPMorgan Chase & Co. were worth $1,942,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Capital International Investors grew its stake in shares of JPMorgan Chase & Co. by 1.9% during 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 in the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $6,016,878,000. Capital World Investors boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after buying an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of JPMorgan Chase & Co. by 3.4% in the 4th 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 buying an additional 695,502 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 4th 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 owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.2 %

JPM stock opened at $224.80 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The stock has a market capitalization of $645.55 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.42 and a beta of 1.12. The business’s fifty day moving average price is $209.28 and its two-hundred day moving average price is $198.47. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $225.48.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to analysts’ expectations 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 business earned $4.37 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup increased their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. UBS Group increased their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Morgan Stanley raised their price target on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.