Centurion Wealth Management LLC Trims Stake in JPMorgan Chase & Co. $JPM

Centurion Wealth Management LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,437 shares of the financial services provider’s stock after selling 55 shares during the period. Centurion Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $33,000. Capital A Wealth Management LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $64,000. Finally, Mpwm Advisory Solutions LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $72,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.4%

Shares of NYSE:JPM opened at $306.88 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $307.55. The company has a 50-day moving average price of $293.94 and a 200 day moving average price of $267.38. The company has a market cap of $843.84 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 2.03 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter last year, the firm earned $6.12 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on JPM shares. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, June 30th. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.67.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.