Cacti Asset Management LLC Reduces Stock Position in JPMorgan Chase & Co. $JPM

Cacti Asset Management LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,410 shares of the financial services provider’s stock after selling 500 shares during the quarter. Cacti Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. GAMMA Investing LLC raised its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Nuveen LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth about $3,972,807,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock worth $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $454,042,000. Finally, National Bank of Canada FI boosted its holdings in JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after purchasing an additional 1,388,992 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $306.88 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $843.84 billion, a P/E ratio of 15.75, a P/E/G ratio of 2.03 and a beta of 1.13. The stock has a 50-day moving average of $293.94 and a two-hundred day moving average of $267.32. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $307.55.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results 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 net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter in the prior year, the company earned $6.12 earnings per share. The business’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Hsbc Global Res lowered JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Truist Financial upped their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Wednesday, July 9th. Finally, Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $291.67.

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.