Washington Capital Management Inc. Cuts Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Washington Capital Management cut its JPMorgan Chase stake by 60.8% in the fourth quarter, selling 5,500 shares and leaving it with 3,545 shares valued at about $1.14 million.
• JPMorgan has seen mixed insider and institutional activity, with several hedge funds adding positions while insiders, including COO Jennifer Piepszak and General Counsel Stacey Friedman, sold shares in recent months.
• Wall Street remains broadly constructive: analysts have a Moderate Buy consensus on JPM, the company recently beat quarterly earnings estimates, and it continues to pay a quarterly dividend that annualizes to $6 per share.

Washington Capital Management Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 60.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,545 shares of the financial services provider's stock after selling 5,500 shares during the period. JPMorgan Chase & Co. comprises approximately 0.9% of Washington Capital Management Inc.'s holdings, making the stock its 16th biggest holding. Washington Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $1,142,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Mountain Hill Investment Partners Corp. purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter worth $32,000. Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter worth $35,000. Miller Global Investments LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth $52,000. Collier Financial purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter worth $60,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth $62,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,404 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total transaction of $1,042,985.60. Following the sale, the general counsel directly owned 61,949 shares in the company, valued at approximately $18,981,173.60. The trade was a 5.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 4,919 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares in the company, valued at $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. 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 sold 79,849 shares of company stock worth $24,522,956 in the last three months. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research analyst reports. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 8th. Truist Financial boosted 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. Freedom Capital raised shares of JPMorgan Chase & Co. to a "hold" rating in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $338.12.

More 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

JPMorgan Chase & Co. Trading Down 1.4%

NYSE JPM opened at $301.93 on Friday. JPMorgan Chase & Co. has a one year low of $252.34 and a one year high of $337.25. The company has a 50-day simple moving average of $299.69 and a 200-day simple moving average of $307.26. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $809.04 billion, a PE 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 released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping 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 period in the previous year, the firm earned $5.07 EPS. JPMorgan Chase & Co.'s revenue was up 10.0% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 22.42 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

About JPMorgan Chase & Co.

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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