King Luther Capital Management Corp Has $571.28 Million Stake in JPMorgan Chase & Co. $JPM

King Luther Capital Management Corp lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,772,943 shares of the financial services provider’s stock after selling 5,691 shares during the period. JPMorgan Chase & Co. comprises 2.3% of King Luther Capital Management Corp’s holdings, making the stock its 8th largest position. King Luther Capital Management Corp’s holdings in JPMorgan Chase & Co. were worth $571,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Roxbury Financial LLC increased its stake in JPMorgan Chase & Co. by 0.4% during the 4th quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider’s stock valued at $2,581,000 after purchasing an additional 31 shares in the last quarter. Collective Family Office LLC increased its stake in JPMorgan Chase & Co. by 1.0% during the 4th quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider’s stock valued at $1,076,000 after purchasing an additional 32 shares in the last quarter. Rialto Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 3.6% during the 3rd quarter. Rialto Wealth Management LLC now owns 962 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 33 shares in the last quarter. Essential Planning LLC. increased its stake in JPMorgan Chase & Co. by 2.4% during the 4th quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 33 shares in the last quarter. Finally, Tevis Investment Management increased its stake in JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider’s stock valued at $1,337,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on JPM shares. UBS Group decreased their price target on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Truist Financial upped their target price 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. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Finally, Evercore upped their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $339.08.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Jamie Dimon is personally promoting SpaceX’s expected blockbuster IPO to 2,500 ultra-wealthy JPMorgan clients, highlighting JPMorgan’s ability to win marquee mandates and generate advisory and placement fees. Reuters article on Dimon discussing SpaceX IPO roadshow
• Positive Sentiment: Reports say JPMorgan is also looking at acquisition opportunities, with CEO Jamie Dimon previously suggesting the bank could deploy $10 billion to $20 billion for a deal, which could support growth if executed well. Yahoo Finance article on acquisition opportunities
• Neutral Sentiment: JPMorgan and other major banks are planning a tokenized deposit system to compete with stablecoins and crypto firms, a longer-term strategic move that could help defend the payments business but is not an immediate earnings driver. WSJ article on tokenized deposit system
• Neutral Sentiment: JPMorgan disclosed that some affiliated entities exited a substantial holder position in PLS Group and increased a stake in a2 Milk, but these are portfolio actions by affiliates and are unlikely to move JPMorgan’s shares meaningfully. TipRanks article on PLS Group filing
• Negative Sentiment: Some commentary from JPMorgan has warned that the crypto-focused CLARITY Act faces a narrow path to passage, underscoring ongoing policy uncertainty in an area the bank is watching closely. Benzinga article on CLARITY Act timing

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $310.99 on Friday. JPMorgan Chase & Co. has a 1 year low of $260.31 and a 1 year high of $337.25. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $833.29 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.47 and a beta of 1.00. The company has a fifty day moving average price of $303.54 and a 200-day moving average price of $306.44.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to analyst estimates 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 was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.07 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel owned 46,428 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the transaction, the insider owned 64,920 shares of the company’s stock, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,589 shares of company stock worth $8,747,496 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

About JPMorgan Chase & Co.

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.