Verdence Capital Advisors LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Verdence Capital Advisors LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,639 shares of the financial services provider’s stock after selling 2,306 shares during the period. JPMorgan Chase & Co. comprises about 1.6% of Verdence Capital Advisors LLC’s portfolio, making the stock its 7th largest holding. Verdence Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $19,330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Disciplined Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $217,000. LGT Group Foundation grew its stake in JPMorgan Chase & Co. by 2.8% in the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after purchasing an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. increased its position in shares of JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,375 shares during the last quarter. Jag Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 10.5% during the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 140 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after buying an additional 319,730 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on JPM. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Stock Performance

JPM opened at $232.94 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The firm has a market cap of $651.31 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The business’s fifty day moving average is $258.29 and its 200-day moving average is $238.83.

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

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the transaction, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,326 shares of company stock valued at $12,448,445. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.