Cassaday & Co Wealth Management LLC Reduces Holdings in JPMorgan Chase & Co. $JPM

Cassaday & Co Wealth Management LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,500 shares of the financial services provider’s stock after selling 1,746 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $6,606,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $32,000. Turning Point Benefit Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $35,000. Cresta Advisors Ltd. acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $48,000. Miller Global Investments LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $52,000. Finally, Collier Financial acquired a new stake in JPMorgan Chase & Co. during the 3rd quarter worth $60,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,404 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total value of $1,042,985.60. Following the completion of the sale, the general counsel owned 61,949 shares in the company, valued at approximately $18,981,173.60. This trade represents a 5.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the completion of the sale, the chief executive officer owned 111,279 shares of the company’s stock, valued at $34,174,893.69. This trade represents a 31.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 79,849 shares of company stock worth $24,522,956. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on JPM shares. The Goldman Sachs Group set a $361.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $338.12.

JPMorgan Chase & Co. Stock Down 0.7%

JPM stock opened at $297.93 on Friday. JPMorgan Chase & Co. has a one year low of $256.00 and a one year high of $337.25. The stock has a market capitalization of $798.31 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.45 and a beta of 1.03. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The company has a fifty day moving average of $299.67 and a 200-day moving average of $307.32.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter last year, the business earned $5.07 EPS. The business’s revenue was up 10.0% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 22.43 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, April 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan’s bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

JPMorgan Chase & Co. 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.