Titleist Asset Management LTD. Sells 447 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 22nd, 2023

Titleist Asset Management LTD. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,094 shares of the financial services provider’s stock after selling 447 shares during the period. Titleist Asset Management LTD.’s holdings in JPMorgan Chase & Co. were worth $2,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Aptus Capital Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 11.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 153,622 shares of the financial services provider’s stock valued at $16,054,000 after acquiring an additional 15,607 shares during the period. Leisure Capital Management grew its position in shares of JPMorgan Chase & Co. by 2.7% during the 3rd quarter. Leisure Capital Management now owns 22,736 shares of the financial services provider’s stock valued at $2,376,000 after acquiring an additional 600 shares during the period. Ballentine Partners LLC grew its position in shares of JPMorgan Chase & Co. by 12.4% during the 3rd quarter. Ballentine Partners LLC now owns 51,929 shares of the financial services provider’s stock valued at $5,427,000 after acquiring an additional 5,719 shares during the period. BerganKDV Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 6.1% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 35,995 shares of the financial services provider’s stock valued at $3,762,000 after acquiring an additional 2,079 shares during the period. Finally, Busey Wealth Management grew its position in shares of JPMorgan Chase & Co. by 1.4% during the 3rd quarter. Busey Wealth Management now owns 242,758 shares of the financial services provider’s stock valued at $25,369,000 after acquiring an additional 3,357 shares during the period. Institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Up 2.7 %

JPM opened at $130.55 on Wednesday. The firm has a 50-day simple moving average of $138.70 and a two-hundred day simple moving average of $129.63. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. The company has a market capitalization of $384.25 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data 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 business had revenue of $34.55 billion during the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.33 EPS. Analysts forecast that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.06%. JPMorgan Chase & Co.’s dividend payout ratio is 33.11%.

Insider Activity

In other news, CEO Mary E. Erdoes sold 10,340 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 544,136 shares in the company, valued at approximately $76,336,839.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Mary E. Erdoes sold 10,340 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 544,136 shares in the company, valued at approximately $76,336,839.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction dated Thursday, January 19th. The shares were acquired at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the transaction, the director now directly owns 22,040 shares in the company, valued at approximately $2,965,041.20. The disclosure for this purchase can be found here. In the last three months, insiders have sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Morgan Stanley upped their target price 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. Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $148.00 to $155.00 in a report on Monday, March 13th. UBS Group set a $156.00 target price on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Finally, Barclays upped their target price on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $150.78.

About JPMorgan Chase & Co.

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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.