Ashton Thomas Private Wealth LLC Reduces Stake in JPMorgan Chase & Co. $JPM

Key Points

• Ashton Thomas Private Wealth LLC cut its JPMorgan Chase stake by 8.8% in the fourth quarter, selling 10,059 shares and leaving it with 104,557 shares valued at about $33.69 million.
• JPMorgan’s latest quarterly results beat expectations, with EPS of $5.94 versus the $5.50 estimate and revenue of $50.54 billion, while the company also maintained a quarterly dividend of $1.50 per share.
• Analysts remain mixed but constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $338.12; shares were trading around $301.93 in Friday’s session.

Ashton Thomas Private Wealth LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,557 shares of the financial services provider's stock after selling 10,059 shares during the period. JPMorgan Chase & Co. makes up about 0.8% of Ashton Thomas Private Wealth LLC's investment portfolio, making the stock its 21st biggest position. Ashton Thomas Private Wealth LLC's holdings in JPMorgan Chase & Co. were worth $33,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. bought a new stake in JPMorgan Chase & Co. during the third quarter valued at about $32,000. Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. during the third quarter valued at about $35,000. Miller Global Investments LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $52,000. Collier Financial bought a new stake in JPMorgan Chase & Co. during the third quarter valued at about $60,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $62,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 433 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the sale, the insider directly owned 64,920 shares of the company's stock, valued at $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total value of $15,355,500.00. Following the sale, the chief executive officer directly owned 111,279 shares in the company, valued at $34,174,893.69. The trade was a 31.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 79,849 shares of company stock valued at $24,522,956 over the last ninety days. 0.41% of the stock is currently owned by company insiders.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: Erste Group raised its FY2027 earnings-per-share estimate for JPMorgan, implying expectations for continued profit strength ahead. JPMorgan Chase & Co. trading and earnings background
• Positive Sentiment: JPMorgan’s role in the first near real-time cross-border tokenized U.S. Treasury redemption with Ripple, Mastercard, and Ondo highlights innovation in blockchain-based settlement and could support long-term growth in payments and markets infrastructure. Ondo, JPMorgan, Mastercard & Ripple complete cross-border Treasury redemption
• Neutral Sentiment: JPMorgan disclosed a new preferred stock issuance and also reported a new 3.06% stake in Umicore, both of which are mostly capital-management and portfolio moves rather than direct operating catalysts. JPMorgan Issues New Series PP Preferred Stock
• Neutral Sentiment: JPMorgan remains in the news for research and commentary, including warnings from CEO Jamie Dimon about a possible bond-market crisis and the bank’s view that U.S. grid failures disproportionately hurt lower-income households. These are important macro views, but they do not immediately change JPM’s fundamentals. Jamie Dimon warns of bond crisis
• Negative Sentiment: JPMorgan is facing lawsuit risk after being sued alongside Citigroup over frozen payments tied to a sanctioned Chinese firm, which raises regulatory and legal uncertainty for the bank. JPMorgan, Citi sued for frozen payments to sanctioned China firm
• Negative Sentiment: Asset Management One disclosed it trimmed its JPM position, adding to signs of some institutional profit-taking in the name. Fund update showing decrease in JPM shares

Analysts Set New Price Targets

A number of equities research analysts have commented on JPM shares. Truist Financial raised their price target on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a report on Wednesday, April 15th. CICC Research started coverage on JPMorgan Chase & Co. in a report on Wednesday, January 14th. They set an "outperform" rating and a $355.00 price target on the stock. Piper Sandler raised their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Robert W. Baird set a $295.00 price target on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Barclays reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $338.12.

JPMorgan Chase & Co. Trading Down 1.4%

Shares of JPM stock opened at $301.93 on Friday. JPMorgan Chase & Co. has a 12-month low of $252.34 and a 12-month high of $337.25. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. The stock's 50-day moving average price is $299.69 and its 200-day moving average price is $307.26. The stock has a market capitalization of $809.04 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. During the same period in the previous year, the firm posted $5.07 earnings per share. The business's revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, April 6th. JPMorgan Chase & Co.'s payout ratio is presently 28.74%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.