Allworth Financial LP Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 23rd, 2023

Allworth Financial LP lifted its position in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,737 shares of the financial services provider’s stock after buying an additional 4,181 shares during the quarter. Allworth Financial LP’s holdings in JPMorgan Chase & Co. were worth $10,425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Cantor Fitzgerald Investment Advisor L.P raised its holdings in shares of JPMorgan Chase & Co. by 81.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after buying an additional 99,636 shares during the period. BCK Partners Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $2,455,000. LSV Asset Management increased its holdings in JPMorgan Chase & Co. by 35.6% during the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after purchasing an additional 9,800 shares during the period. Wsfs Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 70.8% during the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC increased its holdings in JPMorgan Chase & Co. by 1,451.4% during the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 3,527 shares during the period. Hedge funds and other institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Down 2.6 %

Shares of NYSE JPM opened at $127.18 on Thursday. The stock has a market cap of $374.34 billion, a PE ratio of 10.53, 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. has a 52-week low of $101.28 and a 52-week high of $144.34. The business has a 50-day moving average price of $138.45 and a 200 day moving average price of $129.61.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.15%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 33.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Credit Suisse Group set a $155.00 price target on JPMorgan Chase & Co. in a report on Monday, February 27th. UBS Group set a $156.00 price target on JPMorgan Chase & Co. in a report on Friday, January 13th. Barclays upped their price target on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. StockNews.com assumed coverage on JPMorgan Chase & Co. in a report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Oppenheimer upped their price objective on JPMorgan Chase & Co. from $177.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.78.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the company’s 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 completion of the sale, the general counsel now directly owns 48,311 shares of the company’s stock, valued at approximately $6,778,516.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Mellody L. Hobson acquired 375 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 19th. The stock was purchased at an average cost of $134.53 per share, with a total value of $50,448.75. Following the purchase, the director now directly owns 22,040 shares in the company, valued at $2,965,041.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 23,148 shares of the company’s stock in a transaction that occurred 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 directly owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The disclosure for this sale can be found here. Insiders sold a total of 37,887 shares of company stock valued at $5,315,762 in the last ninety days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company 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.