Coerente Capital Management Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 22nd, 2023

Coerente Capital Management lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,424 shares of the financial services provider’s stock after purchasing an additional 200 shares during the period. JPMorgan Chase & Co. comprises 1.1% of Coerente Capital Management’s holdings, making the stock its 22nd biggest position. Coerente Capital Management’s holdings in JPMorgan Chase & Co. were worth $4,884,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of JPM. Price T Rowe Associates Inc. MD lifted its position in shares of JPMorgan Chase & Co. by 23.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock worth $3,566,044,000 after purchasing an additional 5,978,393 shares during the period. Public Investment Fund purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $433,667,000. Barclays PLC lifted its position in shares of JPMorgan Chase & Co. by 77.8% in the 3rd quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock worth $843,433,000 after purchasing an additional 3,531,637 shares during the period. Franklin Resources Inc. lifted its position in shares of JPMorgan Chase & Co. by 21.1% in the 2nd quarter. Franklin Resources Inc. now owns 19,739,048 shares of the financial services provider’s stock worth $2,222,815,000 after purchasing an additional 3,435,522 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after purchasing an additional 2,918,554 shares during the period. Hedge funds and other institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Trading Up 2.7 %

Shares of JPMorgan Chase & Co. stock opened at $130.55 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34. The firm has a market capitalization of $384.25 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.95 and a beta of 1.12. The firm’s 50 day simple moving average is $138.70 and its two-hundred day simple moving average is $129.63.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. The firm 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 business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.33 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Analysts Set New Price Targets

JPM has been the subject of several research reports. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. Deutsche Bank Aktiengesellschaft cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and decreased their target price for the company from $155.00 to $145.00 in a research report on Friday, January 6th. Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $148.00 to $155.00 in a research report on Monday, March 13th. Finally, Credit Suisse Group set a $155.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, February 27th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $150.78.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total value of $3,247,895.88. Following the sale, the general counsel now 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 can be accessed through this hyperlink. In related news, General Counsel Stacey Friedman sold 23,148 shares of the 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 sale, the general counsel now directly owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary E. Erdoes sold 10,340 shares of the 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 sale, the chief executive officer now directly owns 544,136 shares in the company, valued at $76,336,839.44. The disclosure for this sale can be found here. Insiders have sold 37,887 shares of company stock worth $5,315,762 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

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.