RWQ Financial Management Services Inc. holds an $8.05 million stake in JPMorgan Chase & Co. (NYSE: JPM)


RWQ Financial Management Services Inc. cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 32.0% in the first quarter, HoldingsChannel.com reports. The company held 59,018 shares of the financial services provider after selling 27,740 shares during the period. JPMorgan Chase & Co. accounts for approximately 6.6% of RWQ Financial Management Services Inc.’s investment portfolio, making it its 7th largest holding. RWQ Financial Management Services Inc.’s holdings in JPMorgan Chase & Co. were worth $8,045,000 when it last filed with the SEC.

A number of other institutional investors have also recently changed their positions in JPM. Norges Bank acquired a new stock position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $4,092,843,000. GQG Partners LLC increased its equity stake in JPMorgan Chase & Co. by 403.3% during the fourth quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider valued at $806,728,000 after acquiring an additional 4,083,231 shares in the last quarter. Renaissance Technologies LLC increased its equity stake in JPMorgan Chase & Co. by 1,543.7% during the fourth quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider valued at $529,124,000 after acquiring an additional 3,138,200 shares last quarter. State Street Corp increased its holdings of JPMorgan Chase & Co. shares 1.6% in the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider valued at $22,441,376,000 after acquiring an additional 2,277,065 shares last quarter. Finally, National Bank of Canada FI acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter with a value of approximately $298,028,000. Institutional investors and hedge funds hold 70.35% of the company’s shares.

In other news from JPMorgan Chase & Co., CEO Jennifer Piepszak sold 4,668 shares of the company in a trade on Thursday, April 14. The stock was sold at an average price of $126.19, for a total value of $589,054.92. Following the completion of the sale, the CEO now directly owns 11,135 shares of the company, valued at approximately $1,405,125.65. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Also, insider Ashley Bacon sold 21,012 shares of the company in a trade on Tuesday, April 19. The stock was sold at an average price of $130.04, for a total value of $2,732,400.48. Following the completion of the sale, the insider now directly owns 178,588 shares of the company, valued at $23,223,583.52. Disclosure of this sale can be found here. 0.79% of the shares are currently held by company insiders.

Several equity analysts have recently released reports on JPM shares. Wells Fargo & Company cut its price target on JPMorgan Chase & Co. stock from $150.00 to $120.00 and set an “equal weight” rating on the stock in a Friday, July 1 report . Argus lowered its target price on JPMorgan Chase & Co. from $177.00 to $155.00 in a Thursday, April 14 research report. Morgan Stanley lowered its price target on JPMorgan Chase & Co. from $152.00 to $149.00 and set an “underweight” rating on the stock in a Friday, June 24 research report. BMO Capital Markets raised its target price on JPMorgan Chase & Co. from $150.00 to $156.00 in a Tuesday, May 24 research report. Finally, Royal Bank of Canada set a price target of $175.00 on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a Thursday, April 14 research report. One analyst rated the stock with a sell rating, eight gave the stock a hold rating, and eight gave the stock a buy rating. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $159.33.

Shares of JPM Stock opened at $111.89 on Thursday. The stock has a 50-day simple moving average of $120.80 and a 200-day simple moving average of $136.67. JPMorgan Chase & Co. has a 1-year low of $109.30 and a 1-year high of $172.96. The company has a debt ratio of 1.16, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $328.63 billion, a price/earnings ratio of 8.30, a PEG ratio of 2.03 and a beta of 1.15.

JPMorgan Chase & Co. (NYSE:JPMGet a rating) last released its quarterly earnings data on Wednesday, April 13. The financial services provider reported EPS of $2.63 for the quarter, missing the consensus estimate of $2.73 per ($0.10). JPMorgan Chase & Co. posted a net margin of 33.61% and a return on equity of 16.58%. The company posted revenue of $30.72 billion in the quarter, versus analyst estimates of $30.53 billion. In the same period a year earlier, the company posted earnings of $4.50 per share. The company’s revenue for the quarter decreased 4.8% compared to the same quarter last year. Analysts expect JPMorgan Chase & Co. to post earnings per share of 11.25 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, July 31. Investors of record on Wednesday, July 6 will receive a dividend of $1.00. This represents an annualized dividend of $4.00 and a yield of 3.57%. The ex-dividend date is Tuesday, July 5. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.67%.

About JPMorgan Chase & Co. (Get a rating)

JPMorgan Chase & Co operates as a worldwide financial services company. 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 s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.

See also

Want to see what other hedge funds hold JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMGet a rating).

Institutional ownership by quarter for JPMorgan Chase & Co. (NYSE: JPM)



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