King Luther Capital Management Corp Sells 5,691 Shares of JPMorgan Chase & Co. $JPM

Key Points

• King Luther Capital Management trimmed its JPMorgan Chase position by 5,691 shares in the fourth quarter, leaving it with 1,772,943 shares valued at about $571.3 million. JPMorgan remains one of the fund’s largest holdings, making up roughly 2.3% of its portfolio.
• Wall Street’s view on JPMorgan remains mixed: analysts currently rate the stock a Hold on average, with a consensus target price of $339.08. Recent price-target changes included modest upward and downward revisions from firms such as Truist, UBS, Wells Fargo, and Goldman Sachs.
• JPMorgan recently beat quarterly expectations, reporting $5.94 EPS on revenue of $50.54 billion, while also announcing a quarterly dividend of $1.50 per share. The stock was trading around $310.99 and has risen 3.4% in the latest session mentioned in the article.

King Luther Capital Management Corp reduced its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,772,943 shares of the financial services provider's stock after selling 5,691 shares during the period. JPMorgan Chase & Co. comprises approximately 2.3% of King Luther Capital Management Corp's investment portfolio, making the stock its 8th largest position. King Luther Capital Management Corp owned 0.07% of JPMorgan Chase & Co. worth $571,278,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in JPM. Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at approximately $35,000. Merrithew & Thorsten Inc acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $40,000. WHI TRUST Co LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $45,000. Cresta Advisors Ltd. acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $48,000. Finally, Miller Global Investments LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $52,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on JPM shares. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a research report on Wednesday, April 15th. UBS Group cut their target price on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Wells Fargo & Company cut their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 17th. Finally, The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Fourteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus target price of $339.08.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Jamie Dimon is personally promoting SpaceX’s expected blockbuster IPO to 2,500 ultra-wealthy JPMorgan clients, highlighting JPMorgan’s ability to win marquee mandates and generate advisory and placement fees. Reuters article on Dimon discussing SpaceX IPO roadshow
• Positive Sentiment: Reports say JPMorgan is also looking at acquisition opportunities, with CEO Jamie Dimon previously suggesting the bank could deploy $10 billion to $20 billion for a deal, which could support growth if executed well. Yahoo Finance article on acquisition opportunities
• Neutral Sentiment: JPMorgan and other major banks are planning a tokenized deposit system to compete with stablecoins and crypto firms, a longer-term strategic move that could help defend the payments business but is not an immediate earnings driver. WSJ article on tokenized deposit system
• Neutral Sentiment: JPMorgan disclosed that some affiliated entities exited a substantial holder position in PLS Group and increased a stake in a2 Milk, but these are portfolio actions by affiliates and are unlikely to move JPMorgan’s shares meaningfully. TipRanks article on PLS Group filing
• Negative Sentiment: Some commentary from JPMorgan has warned that the crypto-focused CLARITY Act faces a narrow path to passage, underscoring ongoing policy uncertainty in an area the bank is watching closely. Benzinga article on CLARITY Act timing

JPMorgan Chase & Co. Stock Up 3.4%

JPMorgan Chase & Co. stock opened at $310.99 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12-month low of $260.31 and a 12-month high of $337.25. The firm's fifty day moving average is $303.54 and its 200 day moving average is $306.44. The company has a market capitalization of $833.29 billion, a PE ratio of 14.89, a PEG ratio of 1.47 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the previous year, the company earned $5.07 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is presently 28.74%.

Insider Activity at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 5,611 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares in the company, valued at $10,870,263. The trade was a 13.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the business's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. The trade was a 9.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,589 shares of company stock worth $8,747,496 over the last quarter. 0.41% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Company 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.

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