Peoples Financial Services CORP. Cuts Holdings in JPMorgan Chase & Co. (JPM)

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Peoples Financial Services CORP. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 14,730 shares of the financial services provider’s stock after selling 700 shares during the period. Peoples Financial Services CORP.’s holdings in JPMorgan Chase & Co. were worth $1,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Grassi Investment Management grew its position in shares of JPMorgan Chase & Co. by 4.0% in the 2nd quarter. Grassi Investment Management now owns 136,629 shares of the financial services provider’s stock worth $14,237,000 after buying an additional 5,275 shares during the last quarter. LVM Capital Management Ltd. MI grew its position in shares of JPMorgan Chase & Co. by 7.3% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 6,952 shares of the financial services provider’s stock worth $724,000 after buying an additional 475 shares during the last quarter. Hexavest Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $79,311,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of JPMorgan Chase & Co. by 2.9% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 225,592 shares of the financial services provider’s stock worth $23,507,000 after buying an additional 6,400 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC grew its position in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Osborn Williams & Donohoe LLC now owns 78,191 shares of the financial services provider’s stock worth $8,147,000 after buying an additional 565 shares during the last quarter. 70.72% of the stock is currently owned by institutional investors and hedge funds.

JPM stock opened at $113.50 on Friday. The company has a market capitalization of $388.09 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.85 and a beta of 1.16. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.18. JPMorgan Chase & Co. has a 52 week low of $90.76 and a 52 week high of $119.33.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 13th. The financial services provider reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.07. The company had revenue of $27.75 billion during the quarter, compared to analysts’ expectations of $27.62 billion. JPMorgan Chase & Co. had a net margin of 22.80% and a return on equity of 13.18%. equities research analysts forecast that JPMorgan Chase & Co. will post 9.15 EPS for the current fiscal year.

In related news, CEO Gordon Smith sold 30,725 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $114.01, for a total value of $3,502,957.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by company insiders.

A number of research analysts have recently issued reports on JPM shares. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Credit Suisse Group set a $130.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Thursday, July 12th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $124.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $120.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Finally, BMO Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $110.00 to $118.00 and gave the stock a “market perform” rating in a research report on Monday, July 16th. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $120.13.

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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