KRS Capital Management LLC Sells 297 Shares of JPMorgan Chase & Co. (NYSE:JPM)

KRS Capital Management LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,642 shares of the financial services provider’s stock after selling 297 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of KRS Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. KRS Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,531,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in JPM. Norges Bank bought a new position in JPMorgan Chase & Co. in the fourth quarter worth $6,016,878,000. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $1,017,893,000. Wellington Management Group LLP boosted its position in shares of JPMorgan Chase & Co. by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after acquiring an additional 4,603,090 shares in the last quarter. Capital International Investors increased its stake in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after acquiring an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its position in JPMorgan Chase & Co. by 3,836.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after purchasing an additional 1,480,379 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research note on Tuesday, May 21st. BMO Capital Markets lowered their price target on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research report on Monday, April 15th. UBS Group lifted their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Finally, Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.10.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $202.26 on Monday. The business’s 50-day simple moving average is $196.91 and its 200 day simple moving average is $186.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The stock has a market cap of $580.82 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 2.72 and a beta of 1.12. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $205.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The company had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 16.44 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be paid a $1.15 dividend. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.27%. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the sale, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,565 shares of company stock valued at $46,962,717. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.