Sara Bay Financial Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Mar 21st, 2023

Sara Bay Financial lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,939 shares of the financial services provider’s stock after selling 456 shares during the period. JPMorgan Chase & Co. makes up about 4.9% of Sara Bay Financial’s holdings, making the stock its 4th biggest position. Sara Bay Financial’s holdings in JPMorgan Chase & Co. were worth $8,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Grayhawk Investment Strategies Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $32,000. HBC Financial Services PLLC increased its holdings in JPMorgan Chase & Co. by 61.2% during the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 90 shares during the period. Horizons Wealth Management bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $39,000. New Millennium Group LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth approximately $39,000. Finally, Bellwether Advisors LLC increased its holdings in JPMorgan Chase & Co. by 119.1% during the 3rd quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 268 shares during the period. Institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $127.14 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $144.34. The stock has a market capitalization of $374.22 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a fifty day moving average of $138.86 and a 200-day moving average of $129.51. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.46. The business had revenue of $34.55 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.33 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 10,340 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total transaction of $1,450,598.60. Following the completion of the sale, the chief executive officer now owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mellody L. Hobson acquired 375 shares of the firm’s stock in a transaction on Thursday, January 19th. The stock was acquired at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the acquisition, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mary E. Erdoes sold 10,340 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.29, for a total transaction of $1,450,598.60. Following the completion of the transaction, the chief executive officer now owns 544,136 shares of the company’s stock, valued at $76,336,839.44. The disclosure for this sale can be found here. Insiders sold 37,887 shares of company stock valued at $5,315,762 in the last quarter. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Oppenheimer boosted their price target on shares of JPMorgan Chase & Co. from $177.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Royal Bank of Canada set a $130.00 price target on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, February 24th. Finally, Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $148.00 to $155.00 in a research note on Monday, March 13th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $150.78.

JPMorgan Chase & Co. Profile

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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.

See Also

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

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