Cascade Investment Group Inc. Lowers Stock Position in JPMorgan Chase & Co. $JPM

Cascade Investment Group Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,493 shares of the financial services provider’s stock after selling 258 shares during the period. JPMorgan Chase & Co. accounts for 1.0% of Cascade Investment Group Inc.’s portfolio, making the stock its 28th biggest holding. Cascade Investment Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Bank Pictet & Cie Europe AG raised its stake in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider’s stock valued at $46,068,000 after purchasing an additional 1,229 shares during the period. Highview Capital Management LLC DE raised its stake in JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider’s stock valued at $3,266,000 after purchasing an additional 1,893 shares during the period. KKM Financial LLC raised its stake in JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider’s stock valued at $4,040,000 after purchasing an additional 640 shares during the period. Finally, Boothbay Fund Management LLC raised its stake in JPMorgan Chase & Co. by 28.0% during the 4th quarter. Boothbay Fund Management LLC now owns 1,959 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 428 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America lifted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research note on Monday, July 7th. TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Wednesday, July 9th. Finally, TD Cowen began coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $298.60 on Wednesday. The firm has a market capitalization of $821.07 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.96 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29. The business has a 50 day simple moving average of $290.00 and a 200-day simple moving average of $264.70. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the company earned $6.12 EPS. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.