Sanders Capital LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Aug 21st, 2023

Sanders Capital LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 13.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,467,695 shares of the financial services provider’s stock after selling 1,152,933 shares during the period. JPMorgan Chase & Co. comprises about 2.3% of Sanders Capital LLC’s holdings, making the stock its 15th largest position. Sanders Capital LLC owned 0.26% of JPMorgan Chase & Co. worth $973,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Adirondack Retirement Specialists Inc. raised its holdings in JPMorgan Chase & Co. by 510.8% during the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 189 shares in the last quarter. Nordwand Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at $30,000. Boulder Wealth Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Capital Directions Investment Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $44,000. Finally, Sageworth Trust Co increased its position in shares of JPMorgan Chase & Co. by 266.7% during the first quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 296 shares in the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Douglas B. Petno sold 4,930 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now owns 277,161 shares in the company, valued at approximately $39,401,207.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $142.16, for a total value of $700,848.80. Following the transaction, the chief executive officer now directly owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Piepszak sold 1,871 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $140.70, for a total value of $263,249.70. Following the transaction, the chief executive officer now owns 22,926 shares in the company, valued at approximately $3,225,688.20. The disclosure for this sale can be found here. Insiders sold a total of 13,593 shares of company stock worth $1,992,388 over the last ninety days. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $160.00 to $173.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 18th. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday. They set a “hold” rating on the stock. Odeon Capital Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Citigroup downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Wednesday, July 12th. Finally, Jefferies Financial Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $165.00 in a report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.89.

Read Our Latest Report on JPM

JPMorgan Chase & Co. Trading Up 0.2 %

JPM stock opened at $148.97 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. The company has a market cap of $432.92 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.91 and a beta of 1.10. The business has a fifty day simple moving average of $149.14 and a 200-day simple moving average of $140.86. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.75. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. During the same period in the previous year, the company posted $2.76 EPS. The company’s revenue was up 34.1% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 15.57 EPS for the current year.

About JPMorgan Chase & Co.

(Free Report)

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.