IFG Advisory LLC Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

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IFG Advisory LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,242 shares of the financial services provider’s stock after selling 1,801 shares during the quarter. IFG Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $2,819,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of JPMorgan Chase & Co. by 0.5% during the fourth quarter. Rhumbline Advisers now owns 5,870,204 shares of the financial services provider’s stock valued at $573,049,000 after acquiring an additional 31,681 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 4.0% during the second quarter. Fisher Asset Management LLC now owns 5,811,331 shares of the financial services provider’s stock valued at $649,707,000 after acquiring an additional 223,850 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of JPMorgan Chase & Co. by 11,601.0% during the second quarter. Thoroughbred Financial Services LLC now owns 4,973,970 shares of the financial services provider’s stock valued at $497,397,000 after acquiring an additional 4,931,461 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 7.6% during the second quarter. CIBC Private Wealth Group LLC now owns 4,565,517 shares of the financial services provider’s stock valued at $510,424,000 after acquiring an additional 322,114 shares during the last quarter. Finally, Sanders Capital LLC increased its holdings in shares of JPMorgan Chase & Co. by 2.8% in the second quarter. Sanders Capital LLC now owns 4,393,517 shares of the financial services provider’s stock valued at $548,947,000 after purchasing an additional 119,356 shares during the last quarter. Hedge funds and other institutional investors own 72.31% of the company’s stock.

In other news, Director Mellody L. Hobson purchased 18,200 shares of the stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $109.91 per share, for a total transaction of $2,000,362.00. Following the completion of the transaction, the director now directly owns 7,804 shares in the company, valued at approximately $857,737.64. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Peter Scher sold 10,816 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $115.00, for a total value of $1,243,840.00. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Several equities research analysts recently commented on the company. ValuEngine cut JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Zacks Investment Research cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. DZ Bank reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, August 21st. Morgan Stanley set a $122.00 price target on JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Deutsche Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $121.94.

Shares of JPMorgan Chase & Co. stock opened at $105.80 on Wednesday. The firm has a market capitalization of $339.00 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.53 and a beta of 1.16. JPMorgan Chase & Co. has a fifty-two week low of $91.11 and a fifty-two week high of $119.24. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day moving average of $111.52 and a 200 day moving average of $109.04.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.32. The company had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.52 billion. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 9.91 EPS for the current year.

About JPMorgan Chase & Co.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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

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