Castleark Management LLC Sells 16,400 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Castleark Management LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 51.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,685 shares of the financial services provider’s stock after selling 16,400 shares during the quarter. Castleark Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,760,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth $37,000. Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares of the company’s stock, valued at $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,594 shares of company stock valued at $23,991,061. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on JPM shares. 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. Truist Financial set a $261.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, April 14th. Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $266.20.

JPMorgan Chase & Co. Stock Down 1.7%

Shares of NYSE JPM opened at $261.09 on Thursday. The business has a 50-day simple moving average of $242.84 and a two-hundred day simple moving average of $247.77. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The company has a market cap of $725.60 billion, a P/E ratio of 13.23, a P/E/G ratio of 2.83 and a beta of 1.07. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $4.44 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.14%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

About JPMorgan Chase & Co.

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.