Berkshire Asset Management LLC PA Sells 17,667 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Berkshire Asset Management LLC PA lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 402,201 shares of the financial services provider’s stock after selling 17,667 shares during the quarter. JPMorgan Chase & Co. accounts for about 5.0% of Berkshire Asset Management LLC PA’s holdings, making the stock its biggest position. Berkshire Asset Management LLC PA’s holdings in JPMorgan Chase & Co. were worth $106,519,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in JPM. Bradyco Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $2,662,000. Novus Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $264,000. Edgestream Partners L.P. increased its stake in shares of 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 purchasing an additional 27,906 shares during the last quarter. BBR Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. BBR Partners LLC now owns 33,471 shares of the financial services provider’s stock worth $8,023,000 after purchasing an additional 228 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 3.4 %

Shares of JPMorgan Chase & Co. stock opened at $232.94 on Monday. The stock has a market capitalization 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 company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a 50-day simple moving average of $258.29 and a 200 day simple moving average of $238.95. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results 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. The business had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $3.04 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

JPM has been the topic of several analyst reports. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note 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. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, 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 owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,326 shares of company stock worth $12,448,445 in the last quarter. 0.79% of the stock is owned by corporate insiders.

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.