Investors Sell Shares of JPMorgan Chase & Co. (JPM) on Strength (JPM)
Investors sold shares of JPMorgan Chase & Co. (NYSE:JPM) on strength during trading on Thursday. $177.61 million flowed into the stock on the tick-up and $324.00 million flowed out of the stock on the tick-down, for a money net flow of $146.39 million out of the stock. Of all companies tracked, JPMorgan Chase & Co. had the 5th highest net out-flow for the day. JPMorgan Chase & Co. traded up $0.95 for the day and closed at $105.34
JPM has been the subject of several research analyst reports. Jefferies Financial Group downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $101.20 target price for the company. in a research report on Tuesday, January 8th. Zacks Investment Research downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Thursday, November 15th. BMO Capital Markets decreased their price objective on JPMorgan Chase & Co. from $124.00 to $123.00 and set a “market perform” rating for the company in a report on Wednesday, January 16th. Wells Fargo & Co set a $130.00 price objective on JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, November 15th. Finally, Barclays restated a “buy” rating and issued a $140.00 price objective on shares of JPMorgan Chase & Co. in a report on Thursday, February 21st. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. JPMorgan Chase & Co. presently has a consensus rating of “Buy” and a consensus target price of $122.87.
The company has a debt-to-equity ratio of 1.22, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $358.26 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.60 and a beta of 1.12.
In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,831 shares of the business’s stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $102.78, for a total value of $599,310.18. Following the completion of the transaction, the insider now directly owns 98,838 shares in the company, valued at $10,158,569.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas B. Petno sold 11,659 shares of the business’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $105.00, for a total transaction of $1,224,195.00. The disclosure for this sale can be found here. Insiders sold 39,191 shares of company stock valued at $4,102,110 over the last quarter. 0.73% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in JPM. Oregon Public Employees Retirement Fund raised its holdings in JPMorgan Chase & Co. by 5,338.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 39,471,964 shares of the financial services provider’s stock worth $404,000 after purchasing an additional 38,746,167 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $2,986,672,000. American International Group Inc. raised its holdings in JPMorgan Chase & Co. by 314.9% in the fourth quarter. American International Group Inc. now owns 4,882,121 shares of the financial services provider’s stock worth $476,593,000 after purchasing an additional 3,705,536 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in JPMorgan Chase & Co. in the second quarter worth about $278,896,000. Finally, Rehmann Capital Advisory Group raised its holdings in JPMorgan Chase & Co. by 5,555.9% in the third quarter. Rehmann Capital Advisory Group now owns 2,352,612 shares of the financial services provider’s stock worth $11,266,384,000 after purchasing an additional 2,311,016 shares in the last quarter. Institutional investors and hedge funds own 69.08% of the company’s stock.
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About JPMorgan Chase & Co. (NYSE:JPM)
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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