New England Research & Management Inc. Sells 2,737 Shares of JPMorgan Chase & Co. (NYSE:JPM)

New England Research & Management Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 34.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,098 shares of the financial services provider’s stock after selling 2,737 shares during the period. New England Research & Management Inc.’s holdings in JPMorgan Chase & Co. were worth $684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HBC Financial Services PLLC increased its position in shares of JPMorgan Chase & Co. by 61.2% during the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after buying an additional 90 shares during the period. Grayhawk Investment Strategies Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $32,000. Horizons Wealth Management bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $39,000. New Millennium Group LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $39,000. Finally, Parkwood LLC increased its position in shares of JPMorgan Chase & Co. by 7.1% in the second quarter. Parkwood LLC now owns 43,703 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 2,885 shares during the last quarter. 67.89% of the stock is currently owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction dated Thursday, January 19th. The shares were purchased at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the purchase, the director now owns 22,040 shares in the company, valued at approximately $2,965,041.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Mellody L. Hobson acquired 375 shares of the stock in a transaction that occurred on Thursday, January 19th. The shares were bought at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the transaction, the director now directly owns 22,040 shares in the company, valued at $2,965,041.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary E. Erdoes sold 10,340 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total value of $1,450,598.60. Following the sale, the chief executive officer now directly owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,887 shares of company stock worth $5,315,762. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Credit Suisse Group set a $155.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, February 27th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. Oppenheimer lifted their target price on shares of JPMorgan Chase & Co. from $177.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $155.00 to $145.00 in a research report on Friday, January 6th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $150.78.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $125.81 on Friday. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $144.34. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50-day moving average is $139.06 and its 200 day moving average is $129.21. The stock has a market capitalization of $370.30 billion, a P/E ratio of 10.41, a P/E/G ratio of 2.09 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping the consensus estimate of $3.11 by $0.46. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The business had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. During the same quarter in the previous year, the firm posted $3.33 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 12.9 earnings per share for the current year.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co is a financial holding company, which engages in providing 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.