Cahaba Wealth Management Inc. Sells 367 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cahaba Wealth Management Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 11.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,870 shares of the financial services provider’s stock after selling 367 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Group LLC lifted its holdings 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 worth $31,000 after acquiring an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the first quarter worth about $34,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the second quarter worth about $34,000. Partnership Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $36,000. Finally, Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $207.23 on Thursday. The business has a 50 day moving average of $211.39 and a 200 day moving average of $200.61. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $225.48. The company has a market cap of $595.10 billion, a PE ratio of 11.56, a P/E/G ratio of 2.39 and a beta of 1.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates 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 prior year, the business earned $4.37 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods boosted their price target 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. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, BMO Capital Markets boosted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $211.44.

JPMorgan Chase & Co. Company 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.