Acas LLC Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Acas LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,280 shares of the financial services provider’s stock after selling 152 shares during the quarter. Acas LLC’s holdings in JPMorgan Chase & Co. were worth $307,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. lifted its stake in JPMorgan Chase & Co. by 288.9% during the 4th quarter. Edgestream Partners L.P. now owns 37,567 shares of the financial services provider’s stock worth $9,005,000 after acquiring an additional 27,906 shares in the last quarter. BBR Partners LLC raised its position in JPMorgan Chase & Co. by 0.7% in the 4th quarter. BBR Partners LLC now owns 33,471 shares of the financial services provider’s stock valued at $8,023,000 after purchasing an additional 228 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 38 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of JPMorgan Chase & Co. by 8.4% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 83,013 shares of the financial services provider’s stock valued at $19,899,000 after acquiring an additional 6,453 shares during the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. increased its holdings in shares of JPMorgan Chase & Co. by 10.9% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 5,373 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 529 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $232.94 on Monday. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25. The business has a fifty day simple moving average of $258.29 and a 200 day simple moving average of $238.95. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a market cap of $651.31 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock valued at $12,448,445 over the last three months. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on JPM. Truist Financial raised their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. UBS Group raised their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

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.