Osher Van de Voorde Investment Management Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 23rd, 2023

Osher Van de Voorde Investment Management lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 4.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151,180 shares of the financial services provider’s stock after selling 6,755 shares during the period. JPMorgan Chase & Co. comprises approximately 5.2% of Osher Van de Voorde Investment Management’s investment portfolio, making the stock its 2nd largest holding. Osher Van de Voorde Investment Management’s holdings in JPMorgan Chase & Co. were worth $20,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. HBC Financial Services PLLC raised its stake in JPMorgan Chase & Co. by 61.2% in the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after buying an additional 90 shares during the period. Grayhawk Investment Strategies Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Horizons Wealth Management bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $39,000. New Millennium Group LLC bought a new stake in JPMorgan Chase & Co. in the second quarter valued at approximately $39,000. Finally, Parkwood LLC raised its stake in JPMorgan Chase & Co. by 7.1% in the second quarter. Parkwood LLC now owns 43,703 shares of the financial services provider’s stock valued at $44,000 after buying an additional 2,885 shares during the period. Institutional investors own 67.89% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 10,340 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.29, for a total value of $1,450,598.60. Following 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 document filed with the SEC, which is available at the SEC website. In other news, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total value of $3,247,895.88. Following the completion of the transaction, the general counsel now directly owns 48,311 shares in the company, valued at approximately $6,778,516.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value 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. In the last quarter, insiders have sold 37,887 shares of company stock valued at $5,315,762. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JPM. Deutsche Bank Aktiengesellschaft lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and dropped their price objective for the company from $155.00 to $145.00 in a research note on Friday, January 6th. Barclays upped their price objective on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Royal Bank of Canada set a $130.00 target price on JPMorgan Chase & Co. in a research report on Friday, January 13th. UBS Group set a $156.00 target price on JPMorgan Chase & Co. in a research report on Friday, January 13th. Finally, Wells Fargo & Company raised JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $148.00 to $155.00 in a research report on Monday, March 13th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $150.78.

JPMorgan Chase & Co. Trading Down 2.6 %

Shares of NYSE:JPM opened at $127.18 on Thursday. The business’s 50 day simple moving average is $138.45 and its 200 day simple moving average is $129.61. The company has a market capitalization of $374.34 billion, a P/E ratio of 10.53, a P/E/G ratio of 1.95 and a beta of 1.12. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $144.34. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.46. The firm had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.33 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 12.9 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

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.