New England Professional Planning Group Inc. Invests $201,000 in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 24th, 2023

New England Professional Planning Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,497 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of JPMorgan Chase & Co. by 23.3% in the second 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 period. Public Investment Fund purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $433,667,000. Barclays PLC grew its position in shares of JPMorgan Chase & Co. by 77.8% during the 3rd quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock worth $843,433,000 after buying an additional 3,531,637 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 1.1% during the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after buying an additional 2,918,554 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of JPMorgan Chase & Co. by 244.8% in the second quarter. Renaissance Technologies LLC now owns 3,931,843 shares of the financial services provider’s stock valued at $442,765,000 after acquiring an additional 2,791,457 shares in the last quarter. Institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.3 %

NYSE:JPM opened at $126.84 on Friday. The company has a market capitalization of $373.33 billion, a P/E ratio of 10.50, a PEG ratio of 1.97 and a beta of 1.12. 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 fifty day simple moving average of $138.20 and a 200-day simple moving average of $129.59.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. The company 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 firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.33 EPS. On average, equities research analysts anticipate 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 is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.15%. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.11%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research reports. Oppenheimer cut their target price on shares of JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating on the stock in a research report on Thursday. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, February 24th. Deutsche Bank Aktiengesellschaft cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and dropped their target price for the company from $155.00 to $145.00 in a research report on Friday, January 6th. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. Finally, Barclays raised their price objective on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.17.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 23,148 shares of the company’s 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 directly owns 48,311 shares of the company’s stock, valued at approximately $6,778,516.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Mary E. Erdoes sold 10,340 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $76,336,839.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. 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 transaction, the general counsel now owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is 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.