Castleark Management LLC Sells 8,730 Shares of JPMorgan Chase & Co. $JPM

by · The Markets Daily

Castleark Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 16.4% during the 4th quarter, Holdings Channel reports. The firm owned 44,635 shares of the financial services provider’s stock after selling 8,730 shares during the period. Castleark Management LLC’s holdings in JPMorgan Chase & Co. were worth $14,382,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $11,396,496,000. Danske Bank A S purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $696,885,000. American Assets Investment Management LLC raised its holdings in JPMorgan Chase & Co. by 1,172.2% in the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after acquiring an additional 2,081,800 shares during the last quarter. Holocene Advisors LP raised its holdings in JPMorgan Chase & Co. by 1,033.3% in the 3rd quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock worth $679,790,000 after acquiring an additional 1,964,958 shares during the last quarter. Finally, Viking Global Investors LP raised its holdings in JPMorgan Chase & Co. by 86.1% in the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock worth $1,171,826,000 after acquiring an additional 1,870,386 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 2.3%

JPM opened at $320.55 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a fifty-two week low of $262.71 and a fifty-two week high of $337.25. The firm’s fifty day moving average is $306.29 and its 200 day moving average is $306.96. The stock has a market cap of $858.93 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly 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. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.07 EPS. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on JPM. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Finally, Wells Fargo & Company cut their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $339.08.

Get Our Latest Analysis on JPM

Trending Headlines about JPMorgan Chase & Co.

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

  • Positive Sentiment: Erste Group raised its FY2027 earnings estimate for JPMorgan, signaling confidence in the bank’s longer-term profitability; it now expects $23.55 per share versus a prior $23.47. MarketBeat earnings estimate update
  • Positive Sentiment: JPMorgan is deepening its presence in the Charlotte suburbs with new branch openings, a sign of continued retail banking expansion and customer acquisition. Business Journals article
  • Positive Sentiment: Several recent commentary pieces highlighted JPMorgan as an attractive stock to own, reinforcing the view that investors still see it as a high-quality banking franchise. Yahoo Finance article
  • Neutral Sentiment: Media coverage around Jamie Dimon’s criticism of crypto regulation and the “debanking” probe keeps JPMorgan in the regulatory spotlight, but these stories are more about policy debate than immediate fundamentals. Benzinga article
  • Negative Sentiment: The Justice Department’s sweeping “debanking” investigation into JPMorgan and other large banks adds a legal and reputational overhang that could weigh on sentiment if the probe intensifies. New York Post/Reuters coverage

Insider Activity

In related news, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This represents a 5.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 28,589 shares of company stock valued at $8,747,496. Company insiders own 0.41% of the company’s stock.

About JPMorgan Chase & Co.

(Free Report)

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.

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