Modera Wealth Management LLC Sells 2,303 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Modera Wealth Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,473 shares of the financial services provider’s stock after selling 2,303 shares during the period. Modera Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $55,966,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. SRS Capital Advisors Inc. lifted its position in JPMorgan Chase & Co. by 99.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 19,158 shares of the financial services provider’s stock worth $4,592,000 after acquiring an additional 9,559 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth $59,000. Bailard Inc. lifted its position in JPMorgan Chase & Co. by 7.1% during the 4th quarter. Bailard Inc. now owns 144,866 shares of the financial services provider’s stock worth $34,726,000 after acquiring an additional 9,629 shares during the last quarter. Norden Group LLC lifted its position in JPMorgan Chase & Co. by 3.0% during the 4th quarter. Norden Group LLC now owns 21,341 shares of the financial services provider’s stock worth $5,116,000 after acquiring an additional 623 shares during the last quarter. Finally, IFG Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 4.9% during the fourth quarter. IFG Advisors LLC now owns 8,467 shares of the financial services provider’s stock valued at $2,030,000 after buying an additional 393 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock valued at $12,448,445 over the last three months. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $227.89 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $637.22 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The firm’s 50-day moving average price is $258.81 and its two-hundred day moving average price is $238.70.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.04 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.