Thoroughbred Financial Services LLC Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Thoroughbred Financial Services LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 40.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,904 shares of the financial services provider’s stock after selling 20,619 shares during the quarter. JPMorgan Chase & Co. comprises 1.2% of Thoroughbred Financial Services LLC’s investment portfolio, making the stock its 16th biggest position. Thoroughbred Financial Services LLC’s holdings in JPMorgan Chase & Co. were worth $2,813,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital World Investors raised its position in shares of JPMorgan Chase & Co. by 9.9% during the 1st quarter. Capital World Investors now owns 91,033,221 shares of the financial services provider’s stock valued at $8,195,754,000 after buying an additional 8,187,609 shares in the last quarter. Geode Capital Management LLC raised its position in shares of JPMorgan Chase & Co. by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 45,078,060 shares of the financial services provider’s stock valued at $4,050,836,000 after buying an additional 666,292 shares in the last quarter. Morgan Stanley raised its position in shares of JPMorgan Chase & Co. by 6.4% during the 1st quarter. Morgan Stanley now owns 37,812,884 shares of the financial services provider’s stock valued at $3,404,295,000 after buying an additional 2,262,845 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of JPMorgan Chase & Co. by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 31,592,855 shares of the financial services provider’s stock valued at $2,844,306,000 after buying an additional 175,979 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $3,908,541,000. Institutional investors and hedge funds own 71.35% of the company’s stock.

JPM has been the topic of several research reports. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $113.00 price objective on the stock in a research report on Thursday, July 9th. Societe Generale upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “buy” rating in a research report on Tuesday, April 14th. Credit Suisse Group set a $122.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Monday, May 18th. BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $108.00 to $119.00 in a report on Wednesday, July 15th. Finally, TheStreet lowered shares of JPMorgan Chase & Co. from a “b-” rating to a “c” rating in a report on Monday, May 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company. JPMorgan Chase & Co. has a consensus rating of “Buy” and an average price target of $110.44.

Shares of JPMorgan Chase & Co. stock opened at $97.30 on Tuesday. The company’s fifty day simple moving average is $98.56 and its two-hundred day simple moving average is $107.68. The firm has a market cap of $299.10 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 3.32 and a beta of 1.19. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.35. JPMorgan Chase & Co. has a 12-month low of $76.91 and a 12-month high of $141.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. The firm had revenue of $32.98 billion for the quarter, compared to analyst estimates of $30.23 billion. JPMorgan Chase & Co. had a net margin of 18.16% and a return on equity of 10.75%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 5.91 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Thursday, July 2nd. JPMorgan Chase & Co.’s payout ratio is 34.35%.

In other news, CEO Mary E. Erdoes sold 24,554 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $99.52, for a total transaction of $2,443,614.08. Insiders own 0.78% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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