JPMorgan Chase & Co. (NYSE:JPM) Stake Lowered by JPL Wealth Management LLC

Key Points

• JPL Wealth Management LLC has reduced its stake in JPMorgan Chase & Co. by 14.9%, now holding 14,218 shares valued at approximately $3.49 million, making it the firm's 22nd largest holding.
• There is a mixed outlook for JPMorgan, with Baird R W downgrading the stock to "strong sell" while others like Piper Sandler maintain an "overweight" rating, resulting in an overall rating of "Moderate Buy" from analysts.
• The company reported quarterly earnings of $4.96 per share, exceeding estimates, despite a 10.5% decline in revenue compared to the previous year.

JPL Wealth Management LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 14.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,218 shares of the financial services provider's stock after selling 2,485 shares during the period. JPMorgan Chase & Co. comprises approximately 1.4% of JPL Wealth Management LLC's portfolio, making the stock its 22nd biggest holding. JPL Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $3,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after acquiring an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE raised its position in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after acquiring an additional 1,893 shares in the last quarter. KKM Financial LLC lifted its stake in JPMorgan Chase & Co. by 3.9% in the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after acquiring an additional 640 shares during the last quarter. Finally, Ashton Thomas Securities LLC grew its position in JPMorgan Chase & Co. by 13.8% in the fourth quarter. Ashton Thomas Securities LLC now owns 8,367 shares of the financial services provider's stock worth $2,003,000 after acquiring an additional 1,012 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on JPM shares. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 over the last 90 days. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $298.22 on Tuesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $299.59. The company has a fifty day moving average price of $278.35 and a 200 day moving average price of $260.40. The stock has a market cap of $828.78 billion, a P/E ratio of 15.30, a PEG ratio of 2.01 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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. 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 the consensus estimate of $43.76 billion. During the same quarter in the previous year, the firm posted $6.12 EPS. The business's revenue was down 10.5% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.88%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

JPMorgan Chase & Co. Profile

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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