Guardian Investment Management Sells 300 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 23rd, 2023

Guardian Investment Management cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,459 shares of the financial services provider’s stock after selling 300 shares during the quarter. JPMorgan Chase & Co. accounts for 2.8% of Guardian Investment Management’s investment portfolio, making the stock its 9th largest position. Guardian Investment Management’s holdings in JPMorgan Chase & Co. were worth $3,012,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased 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 valued at $3,566,044,000 after purchasing an additional 5,978,393 shares during the last quarter. Public Investment Fund purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $433,667,000. Barclays PLC increased 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 valued at $843,433,000 after purchasing an additional 3,531,637 shares during the last quarter. Vanguard Group Inc. increased 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 valued at $28,480,408,000 after purchasing an additional 2,918,554 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of JPMorgan Chase & Co. by 244.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,931,843 shares of the financial services provider’s stock valued at $442,765,000 after purchasing an additional 2,791,457 shares during the last quarter. 67.89% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 2.6 %

Shares of JPMorgan Chase & Co. stock opened at $127.18 on Thursday. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $144.34. The company has a market capitalization of $374.34 billion, a P/E ratio of 10.53, a PEG ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. The company’s fifty day moving average is $138.45 and its two-hundred day moving average is $129.61.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 33.11%.

Insider Transactions at JPMorgan Chase & Co.

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

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Oppenheimer increased their price objective on shares of JPMorgan Chase & Co. from $177.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Credit Suisse Group set a $155.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, February 27th. Barclays increased their target price on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Finally, UBS Group set a $156.00 target price on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock 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.