Ancora Advisors LLC Sells 1,544 Shares of JPMorgan Chase & Co. $JPM

Ancora Advisors LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 306,652 shares of the financial services provider’s stock after selling 1,544 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.7% of Ancora Advisors LLC’s investment portfolio, making the stock its 11th largest holding. Ancora Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $75,222,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the first quarter worth about $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the first quarter worth about $33,000. Measured Risk Portfolios Inc. bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $54,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of NYSE:JPM opened at $299.37 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $302.95. The stock has a market cap of $823.19 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 2.00 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average price of $292.41 and a 200-day moving average price of $265.59.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same period last year, the business posted $6.12 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Analysts Set New Price Targets

JPM has been the subject of several recent analyst reports. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a report on Friday, June 27th. Bank of America raised their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $291.67.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.