Bridges Investment Management Inc. Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Bridges Investment Management Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 540,393 shares of the financial services provider’s stock after selling 11,928 shares during the period. JPMorgan Chase & Co. accounts for 1.8% of Bridges Investment Management Inc.’s portfolio, making the stock its 14th largest position. Bridges Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $129,538,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after acquiring an additional 319,730 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after purchasing an additional 2,839 shares in the last quarter. Brighton Jones LLC boosted its position in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after buying an additional 4,841 shares during the last quarter. Zions Bancorporation N.A. raised its position in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock worth $2,353,000 after buying an additional 267 shares during the last quarter. Finally, Algert Global LLC bought a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $3,017,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JPM has been the subject of a number of research analyst reports. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Keefe, Bruyette & Woods boosted 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. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Truist Financial increased their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock worth $12,448,445 in the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $229.26 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The business’s 50-day simple moving average is $259.05 and its two-hundred day simple moving average is $238.78. The stock has a market cap of $641.03 billion, a PE ratio of 11.61, a P/E/G ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $41.90 billion. During the same period last year, the firm posted $3.04 EPS. The company’s revenue was up 10.9% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Company 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.