Maltese Capital Management LLC Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Maltese Capital Management LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 36.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,500 shares of the financial services provider’s stock after selling 12,000 shares during the quarter. Maltese Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $6,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider’s stock worth $17,646,506,000 after acquiring an additional 300,160 shares in the last quarter. Norges Bank acquired a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $10,295,209,000. Legal & General Group Plc raised its holdings in JPMorgan Chase & Co. by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider’s stock worth $5,964,459,000 after purchasing an additional 607,025 shares during the period. Laurel Wealth Advisors LLC boosted its position in JPMorgan Chase & Co. by 28,813.7% during the second quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock worth $4,866,309,000 after purchasing an additional 16,727,530 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in JPMorgan Chase & Co. by 2.3% during the third quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider’s stock worth $4,959,330,000 after purchasing an additional 347,033 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.9%

Shares of JPM opened at $286.04 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $337.25. The stock has a market cap of $771.45 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06. The firm’s fifty day moving average is $305.77 and its two-hundred day moving average is $308.32. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 EPS for the quarter, beating analysts’ consensus estimates of $4.93 by $0.30. The business had revenue of $45.80 billion during the quarter, compared to analysts’ expectations of $45.98 billion. JPMorgan Chase & Co. had a net margin of 20.35% and a return on equity of 17.16%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.81 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

More JPMorgan Chase & Co. News

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Wall Street Analysts Forecast Growth

A number of analysts have recently commented on JPM shares. Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research report on Monday, December 22nd. Daiwa Securities Group lifted their price target on shares of JPMorgan Chase & Co. from $345.00 to $353.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $336.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, January 14th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.00.

View Our Latest Report on JPMorgan Chase & Co.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 432 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $307.14, for a total transaction of $132,684.48. Following the transaction, the insider directly owned 65,353 shares in the company, valued at $20,072,520.42. The trade was a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 8,571 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $312.79, for a total value of $2,680,923.09. Following the completion of the sale, the chief operating officer owned 71,027 shares of the company’s stock, valued at $22,216,535.33. This trade represents a 10.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,596 shares of company stock worth $22,067,932 in the last 90 days. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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