KRS Capital Management LLC Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 23rd, 2023

KRS Capital Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 4.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,683 shares of the financial services provider’s stock after selling 437 shares during the period. JPMorgan Chase & Co. makes up about 1.3% of KRS Capital Management LLC’s holdings, making the stock its 16th largest holding. KRS Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Twin Lakes Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.5% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,786 shares of the financial services provider’s stock worth $1,849,000 after buying an additional 71 shares during the last quarter. Karpas Strategies LLC increased its holdings in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Karpas Strategies LLC now owns 21,608 shares of the financial services provider’s stock valued at $2,898,000 after purchasing an additional 71 shares in the last quarter. Oxler Private Wealth LLC increased its holdings in JPMorgan Chase & Co. by 0.9% in the 4th quarter. Oxler Private Wealth LLC now owns 8,158 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 71 shares in the last quarter. Sanford Advisory Services LLC increased its holdings in JPMorgan Chase & Co. by 2.4% in the 4th quarter. Sanford Advisory Services LLC now owns 3,176 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 73 shares in the last quarter. Finally, Gould Asset Management LLC CA increased its holdings in JPMorgan Chase & Co. by 1.2% in the 4th quarter. Gould Asset Management LLC CA now owns 6,580 shares of the financial services provider’s stock valued at $882,000 after purchasing an additional 75 shares in the last quarter. 70.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 16,766 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.00, for a total value of $2,263,410.00. Following the sale, the insider now owns 195,356 shares in the company, valued at $26,373,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the transaction, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashley Bacon sold 16,766 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.00, for a total transaction of $2,263,410.00. Following the transaction, the insider now owns 195,356 shares in the company, valued at approximately $26,373,060. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

JPM opened at $139.58 on Friday. The firm has a market cap of $407.89 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $144.34. The company’s 50-day moving average price is $138.71 and its 200 day moving average price is $136.41. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.69. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The firm had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. During the same quarter in the prior year, the business earned $2.63 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 14.35 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.87%. JPMorgan Chase & Co.’s payout ratio is currently 29.52%.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Royal Bank of Canada lowered their price target on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, March 24th. Jefferies Financial Group lowered their price target on JPMorgan Chase & Co. from $152.00 to $149.00 in a report on Monday, May 15th. Barclays decreased their price objective on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, April 12th. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Finally, BMO Capital Markets upped their price objective on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.65.

JPMorgan Chase & Co. Profile

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JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.