Redpoint Investment Management Pty Ltd Sells 4,206 Shares of JPMorgan Chase & Co. (JPM)

Redpoint Investment Management Pty Ltd lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 248,715 shares of the financial services provider’s stock after selling 4,206 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.4% of Redpoint Investment Management Pty Ltd’s holdings, making the stock its 5th biggest position. Redpoint Investment Management Pty Ltd’s holdings in JPMorgan Chase & Co. were worth $25,916,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in JPM. Quad Cities Investment Group LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $124,000. Ballew Advisors Inc grew its position in JPMorgan Chase & Co. by 104.2% in the 2nd quarter. Ballew Advisors Inc now owns 1,213 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 619 shares during the last quarter. Stelac Advisory Services LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter worth about $162,000. Kwmg LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth about $158,000. Finally, Private Ocean LLC grew its position in JPMorgan Chase & Co. by 94.7% in the 1st quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 824 shares during the last quarter. 70.26% of the stock is owned by institutional investors and hedge funds.

JPM stock opened at $112.24 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $102.20 and a 12 month high of $119.33. The company has a market cap of $381.60 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 1.80 and a beta of 1.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.17.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 12th. The financial services provider reported $2.34 EPS for the quarter, beating the consensus estimate of $2.24 by $0.10. JPMorgan Chase & Co. had a net margin of 23.39% and a return on equity of 13.90%. The business had revenue of $27.26 billion during the quarter, compared to analyst estimates of $27.20 billion. During the same period in the prior year, the business earned $1.76 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 9.26 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on JPM shares. Wolfe Research started coverage on shares of JPMorgan Chase & Co. in a report on Tuesday, September 25th. They issued an “outperform” rating for the company. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $115.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, September 26th. Zacks Investment Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Friday, September 14th. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $126.00 to $132.00 and gave the company a “buy” rating in a report on Monday, September 17th. Finally, Wells Fargo & Co set a $130.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, November 15th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $123.49.

In other news, Director Mellody L. Hobson purchased 1,150 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, October 19th. The stock was acquired at an average price of $108.94 per share, for a total transaction of $125,281.00. Following the transaction, the director now owns 2,632 shares in the company, valued at $286,730.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is owned by corporate insiders.

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About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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

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