JPMorgan Chase & Co. $JPM Shares Sold by Evergreen Capital Management LLC

Key Points

• Evergreen Capital Management LLC has reduced its stake in JPMorgan Chase & Co. by 28.5%, now holding 89,079 shares valued at approximately $21.85 million.
• Despite some investors reducing their positions, others like Florida Financial Advisors LLC have increased their holdings by 62.5%, indicating mixed institutional sentiment towards the stock.
• Analysts maintain a consensus rating of "Moderate Buy" for JPMorgan Chase & Co., with a target price of $288.68, following various price adjustments and rating changes by several research firms.

Evergreen Capital Management LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,079 shares of the financial services provider's stock after selling 35,566 shares during the period. JPMorgan Chase & Co. makes up approximately 0.7% of Evergreen Capital Management LLC's holdings, making the stock its 24th biggest position. Evergreen Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $21,851,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JPM. Florida Financial Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after acquiring an additional 3,792 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $471,000. Crown Wealth Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after acquiring an additional 222 shares during the period. Mosaic Financial Group LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after acquiring an additional 78 shares during the period. Finally, Morse Asset Management Inc raised its holdings in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after acquiring an additional 420 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on JPM shares. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $300.81 on Friday. The company's fifty day moving average is $291.05 and its 200-day moving average is $265.15. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. The firm has a market cap of $827.15 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate 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 company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the business posted $6.12 EPS. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts expect 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.

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