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CWA Asset Management Group LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

by Staff
July 9, 2022
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JPMorgan Chase & Co. logoCWA Asset Management Group LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,159 shares of the financial services provider’s stock after selling 7,907 shares during the quarter. CWA Asset Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $9,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Pinnacle Wealth Management Group Inc. raised its stake in shares of JPMorgan Chase & Co. by 1.3% in the first quarter. Pinnacle Wealth Management Group Inc. now owns 15,931 shares of the financial services provider’s stock worth $2,172,000 after purchasing an additional 200 shares during the last quarter. Empirical Finance LLC increased its position in shares of JPMorgan Chase & Co. by 11.3% during the first quarter. Empirical Finance LLC now owns 58,311 shares of the financial services provider’s stock valued at $7,949,000 after acquiring an additional 5,905 shares during the last quarter. Gyroscope Capital Management Group LLC increased its position in shares of JPMorgan Chase & Co. by 11.6% during the first quarter. Gyroscope Capital Management Group LLC now owns 49,244 shares of the financial services provider’s stock valued at $6,713,000 after acquiring an additional 5,107 shares during the last quarter. HighTower Trust Services LTA increased its position in shares of JPMorgan Chase & Co. by 16.9% during the first quarter. HighTower Trust Services LTA now owns 55,702 shares of the financial services provider’s stock valued at $7,593,000 after acquiring an additional 8,044 shares during the last quarter. Finally, Financial Management Network Inc. increased its position in shares of JPMorgan Chase & Co. by 11.5% during the first quarter. Financial Management Network Inc. now owns 5,806 shares of the financial services provider’s stock valued at $789,000 after acquiring an additional 597 shares during the last quarter. 70.35% of the stock is owned by hedge funds and other institutional investors.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 21,012 shares of the firm’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the sale, the insider now owns 178,588 shares in the company, valued at $23,223,583.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Piepszak sold 4,668 shares of the firm’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $126.19, for a total value of $589,054.92. Following the sale, the chief executive officer now owns 11,135 shares in the company, valued at approximately $1,405,125.65. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

NYSE:JPM opened at $114.36 on Friday. The firm has a market capitalization of $335.88 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 1.99 and a beta of 1.15. JPMorgan Chase & Co. has a 52-week low of $109.30 and a 52-week high of $172.96. The stock has a fifty day moving average of $120.53 and a 200 day moving average of $136.10. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.82.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings data on Wednesday, April 13th. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($0.10). The business had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $30.53 billion. JPMorgan Chase & Co. had a net margin of 33.61% and a return on equity of 16.58%. JPMorgan Chase & Co.’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.50 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 11.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Investors of record on Wednesday, July 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Tuesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is 29.67%.

A number of analysts recently commented on the company. Berenberg Bank set a $120.00 price target on JPMorgan Chase & Co. in a research report on Tuesday, April 19th. Argus decreased their price target on JPMorgan Chase & Co. from $177.00 to $155.00 in a research report on Thursday, April 14th. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $150.00 to $156.00 in a research report on Tuesday, May 24th. StockNews.com started coverage on JPMorgan Chase & Co. in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $148.00 price objective (up from $142.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $159.33.

JPMorgan Chase & Co. Company Profile (Get Rating)

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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

See Also

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Get Rating).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)



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