Nova Wealth Management Inc. Reduces Stock Holdings in JPMorgan Chase & Co. $JPM

Nova Wealth Management Inc. trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 18.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,848 shares of the financial services provider’s stock after selling 872 shares during the quarter. Nova Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter worth $33,000. Capital A Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $64,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $72,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on JPM. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $291.67.

JPMorgan Chase & Co. Stock Up 0.4%

NYSE JPM opened at $306.88 on Friday. The business has a fifty day moving average price of $293.94 and a 200 day moving average price of $267.38. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $843.84 billion, a P/E ratio of 15.75, a P/E/G ratio of 2.03 and a beta of 1.13. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $307.55.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.12 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

About JPMorgan Chase & Co.

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.