Quadcap Wealth Management LLC Trims Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Quadcap Wealth Management LLC reduced its stake in JPMorgan Chase & Co. by 4.6% during the 1st quarter, now holding 18,040 shares worth approximately $4.43 million.
• JPMorgan Chase & Co. reported $4.96 earnings per share for the latest quarter, exceeding analysts' expectations of $4.48, while revenue declined by 10.5% year-over-year.
• Current average price target for JPMorgan Chase & Co. is set at $288.68, with ratings including one Strong Buy, thirteen Buy, six Hold, and three Sell from various analysts.

Quadcap Wealth Management LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,040 shares of the financial services provider's stock after selling 863 shares during the period. Quadcap Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $4,425,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 68.4% during the 1st quarter. Redwood Investment Management LLC now owns 8,573 shares of the financial services provider's stock worth $2,103,000 after acquiring an additional 3,481 shares during the period. Samalin Investment Counsel LLC grew its holdings in shares of JPMorgan Chase & Co. by 2.6% in the first quarter. Samalin Investment Counsel LLC now owns 9,262 shares of the financial services provider's stock valued at $2,272,000 after purchasing an additional 233 shares during the period. PKS Advisory Services LLC raised its stake in JPMorgan Chase & Co. by 1.9% during the first quarter. PKS Advisory Services LLC now owns 5,216 shares of the financial services provider's stock worth $1,280,000 after purchasing an additional 96 shares during the period. Potomac Fund Management Inc. ADV grew its position in JPMorgan Chase & Co. by 5.7% in the first quarter. Potomac Fund Management Inc. ADV now owns 8,273 shares of the financial services provider's stock worth $1,895,000 after acquiring an additional 448 shares during the period. Finally, South Plains Financial Inc. grew its holdings in shares of JPMorgan Chase & Co. by 1.6% during the 1st quarter. South Plains Financial Inc. now owns 6,075 shares of the financial services provider's stock worth $1,490,000 after purchasing an additional 94 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.5%

Shares of JPM stock traded up $1.53 during trading on Thursday, reaching $300.81. The company's stock had a trading volume of 6,409,172 shares, compared to its average volume of 7,518,651. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $827.15 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.99 and a beta of 1.11. The stock's 50-day moving average price is $290.51 and its 200 day moving average price is $264.94. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share 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 analysts' expectations of $43.76 billion. During the same quarter in the previous year, the business posted $6.12 earnings per share. The business's quarterly revenue was down 10.5% compared to the same quarter last year. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent analyst reports. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report 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 stock a "hold" rating in a report on Wednesday, July 9th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $288.68.

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.