Tower Bridge Advisors Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Tower Bridge Advisors lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,510 shares of the financial services provider’s stock after selling 604 shares during the quarter. JPMorgan Chase & Co. comprises about 3.4% of Tower Bridge Advisors’ investment portfolio, making the stock its 6th biggest position. Tower Bridge Advisors’ holdings in JPMorgan Chase & Co. were worth $31,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Illumine Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $825,000. Veridan Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $255,000. Waterway Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 3.9% during the 4th quarter. Waterway Wealth Management LLC now owns 4,744 shares of the financial services provider’s stock valued at $1,137,000 after purchasing an additional 178 shares in the last quarter. Fortress Financial Group LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $612,000. Finally, First American Bank grew its stake in JPMorgan Chase & Co. by 3.2% in the 4th quarter. First American Bank now owns 125,116 shares of the financial services provider’s stock valued at $29,992,000 after buying an additional 3,871 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In related news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 46,326 shares of company stock worth $12,448,445. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their target price for the company from $215.00 to $220.00 in a research note on Friday. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $252.89.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $231.82 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The firm’s 50-day simple moving average is $259.26 and its 200-day simple moving average is $238.70. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. The firm has a market cap of $648.18 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the previous year, the business earned $3.04 EPS. The firm’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS 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.