Paragon Financial Partners Inc. reduces stake in JPMorgan Chase & Co. (NYSE:JPM)

Paragon Financial Partners Inc. reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.6% during the second quarter, HoldingsChannel reports. The fund owned 1,484 shares of the financial services provider’s stock after selling 71 shares during the quarter. The holdings of Paragon Financial Partners Inc. in JPMorgan Chase & Co. were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Capital International Investors grew its position in JPMorgan Chase & Co. by 1.9% in the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after purchasing an additional 778,297 shares during the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $6,016,878,000. Capital World Investors grew its holdings in JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after buying an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in JPMorgan Chase & Co. by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after purchasing an additional 695,502 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock worth $3,389,329,000 after purchasing an additional 154,426 shares in the last quarter. 71.55% of shares are currently owned by institutional investors.

Analysts set new price targets

A number of research firms recently weighed in on JPM. Robert W. Baird raised their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Piper Sandler raised its price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Finally, BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $211.44.

Get the latest analysis on JPMorgan Chase & Co.

The stock of JPMorgan Chase & Co. down 2.4%

Shares of NYSE:JPM opened at $212.46 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.91, and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $211.25 and a two hundred day simple moving average of $200.17. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The stock has a market cap of $610.11 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 2.62 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM – Get Your Free Report ) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. In the same quarter last year, the firm earned $4.37 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

Company Profile JPMorgan Chase & Co

(Free report)

JPMorgan Chase & Co. operates as a global 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 deposit, investment and lending products, cash management and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leasing and travel services for consumers and small businesses through bank branches, ATMs and digital and phone banking.

Further reading

Want to see what other hedge funds JPM owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for JPMorgan Chase & Co. (NYSE:JPM – Free Report).

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