LGT Fund Management Co Ltd. Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

LGT Fund Management Co Ltd. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,167 shares of the financial services provider’s stock after selling 362 shares during the quarter. JPMorgan Chase & Co. comprises about 0.8% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 29th largest holding. LGT Fund Management Co Ltd.’s holdings in JPMorgan Chase & Co. were worth $9,628,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Kinsale Capital Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after acquiring an additional 4,375 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of JPMorgan Chase & Co. by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after acquiring an additional 319,730 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after acquiring an additional 2,839 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Finally, BlueStem Wealth Partners LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $344,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 0.5 %

Shares of NYSE:JPM opened at $227.89 on Thursday. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25. The firm has a market capitalization of $637.22 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The business’s 50 day moving average price is $258.81 and its 200-day moving average price is $238.70.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the firm posted $3.04 EPS. The business’s revenue was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Barclays increased their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $252.89.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the transaction, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock worth $12,448,445 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.