North Star Investment Management Corp. Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Mar 21st, 2023

North Star Investment Management Corp. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 283,347 shares of the financial services provider’s stock after selling 2,668 shares during the period. JPMorgan Chase & Co. comprises 3.4% of North Star Investment Management Corp.’s holdings, making the stock its biggest position. North Star Investment Management Corp.’s holdings in JPMorgan Chase & Co. were worth $37,997,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HBC Financial Services PLLC grew its stake in JPMorgan Chase & Co. by 61.2% in the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 90 shares during the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $32,000. Horizons Wealth Management bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $39,000. New Millennium Group LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $39,000. Finally, Parkwood LLC boosted its stake in JPMorgan Chase & Co. by 7.1% in the second quarter. Parkwood LLC now owns 43,703 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 2,885 shares in the last quarter. 67.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on JPM shares. Barclays upped their price target on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Oppenheimer raised their price target on JPMorgan Chase & Co. from $177.00 to $186.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Credit Suisse Group set a $155.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, February 27th. Finally, Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, February 24th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.78.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the transaction, the general counsel now owns 48,311 shares in the company, valued at $6,778,516.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the completion of the transaction, the general counsel now directly owns 48,311 shares in the company, valued at $6,778,516.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction dated Thursday, January 19th. The stock was bought at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the transaction, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The disclosure for this purchase can be found here. Insiders sold a total of 37,887 shares of company stock worth $5,315,762 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $127.14 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $374.22 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.95 and a beta of 1.12. The firm’s 50 day simple moving average is $138.86 and its 200-day simple moving average is $129.51. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, beating the consensus estimate of $3.11 by $0.46. The company had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business earned $3.33 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

JPMorgan Chase & Co. Profile

(Get Rating)

JPMorgan Chase & Co is a financial holding company, which engages in providing 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.

Featured Articles

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Get Rating).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.