Man Group plc Sells 7,508 Shares of JPMorgan Chase & Co. (NYSE:JPM)

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Man Group plc lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 111,851 shares of the financial services provider’s stock after selling 7,508 shares during the period. Man Group plc’s holdings in JPMorgan Chase & Co. were worth $13,164,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Personal Wealth Partners bought a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $28,000. MRA Associates USA LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $30,000. Global Trust Asset Management LLC increased its stake in JPMorgan Chase & Co. by 2,027.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock worth $33,000 after buying an additional 5,068 shares during the period. Bridger Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $33,000. Finally, Titan Capital Management LLC CA bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $35,000. 71.89% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Gordon Smith sold 83,289 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $119.98, for a total value of $9,993,014.22. Following the completion of the transaction, the chief executive officer now directly owns 393,197 shares of the company’s stock, valued at approximately $47,175,776.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mellody L. Hobson acquired 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were bought at an average price of $124.65 per share, with a total value of $1,994,400.00. Following the completion of the purchase, the director now directly owns 8,186 shares in the company, valued at $1,020,384.90. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 152,944 shares of company stock worth $19,088,970. 0.76% of the stock is currently owned by corporate insiders.

NYSE JPM opened at $129.78 on Wednesday. JPMorgan Chase & Co. has a one year low of $91.11 and a one year high of $132.74. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $413.26 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.85 and a beta of 1.23. The company’s 50-day simple moving average is $127.65 and its two-hundred day simple moving average is $116.04.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.23. JPMorgan Chase & Co. had a net margin of 24.70% and a return on equity of 14.63%. The firm had revenue of $29.34 billion during the quarter, compared to analysts’ expectations of $28.36 billion. During the same quarter in the prior year, the company earned $2.34 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. Equities analysts expect that JPMorgan Chase & Co. will post 10.17 earnings per share for the current fiscal year.

JPM has been the subject of several research reports. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Co set a $125.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 16th. Credit Suisse Group lifted their price target on shares of JPMorgan Chase & Co. from $135.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $141.00 price target (up previously from $138.00) on shares of JPMorgan Chase & Co. in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $123.48.

JPMorgan Chase & Co. Company Profile

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.

Read More: What does an outperform rating mean?

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

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

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