Thornburg Investment Management Inc. Sells 91,207 Shares of JPMorgan Chase & Co. $JPM

Thornburg Investment Management Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 97.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,949 shares of the financial services provider’s stock after selling 91,207 shares during the period. Thornburg Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of JPM. Brighton Jones LLC raised its holdings in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares during the period. Acorns Advisers LLC raised its holdings in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares during the period. Ignite Planners LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after purchasing an additional 78 shares during the period. Jump Financial LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $1,475,000. Finally, Betterment LLC raised its holdings in shares of JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 425 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a “hold” rating in a report on Wednesday, April 15th. Barclays reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Daiwa Securities Group lowered their target price on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Finally, Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Fourteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $339.08.

Insider Activity

In other news, General Counsel Stacey Friedman sold 5,468 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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 company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the completion of the transaction, the chief operating officer directly owned 90,001 shares in the company, valued at approximately $27,590,706.56. The trade was a 9.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 28,589 shares of company stock worth $8,747,496. Company insiders own 0.41% of the company’s stock.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorganChase declared dividends on its Series CC preferred stock, a routine but supportive signal that the bank continues returning capital to investors. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: The company announced it will hold a 2027 Investor Day in New York, which may help build confidence by giving management a platform to discuss long-term growth, capital plans, and strategy. JPMorganChase Announces 2027 Investor Day
• Positive Sentiment: JPMorgan’s trading desk said the market could see a broad risk-on move after the Iran-related peace news, which could favor cyclicals and financials like JPM if investor sentiment improves. Stock Market Poised for ‘Broad Risk-On Impulse,’ Says JPMorgan
• Neutral Sentiment: Several articles mentioned JPMorgan in market commentary and stock-picking notes, but they do not appear to change the bank’s fundamentals directly. Which is the Better Bank Stock to Buy: JPMorgan or Citigroup?
• Negative Sentiment: One broader theme in the market is a possible rotation toward higher-beta and cyclically sensitive names, which could slightly pressure defensive large-cap financial trades if investors shift away from quality premiums. Morgan Stanley’s Wilson Sees US Stock Market Rally Broadening

JPMorgan Chase & Co. Trading Down 0.4%

Shares of JPM stock opened at $319.36 on Tuesday. The company’s fifty day simple moving average is $306.78 and its two-hundred day simple moving average is $307.14. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. JPMorgan Chase & Co. has a 1 year low of $266.85 and a 1 year high of $337.25. The stock has a market capitalization of $855.74 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.57 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.07 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 22.4 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 Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

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.