Joule Financial LLC Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Mar 24th, 2023

Joule Financial LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,035 shares of the financial services provider’s stock after acquiring an additional 318 shares during the period. Joule Financial LLC’s holdings in JPMorgan Chase & Co. were worth $675,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Creative Capital Management Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $30,000. HBC Financial Services PLLC lifted its stake in shares of JPMorgan Chase & Co. by 61.2% in the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 90 shares during the period. Horizons Wealth Management acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $39,000. New Millennium Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $39,000. Finally, Bellwether Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 119.1% in the 3rd quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 268 shares during the period. 67.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on JPM. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research note 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 note on Friday, January 6th. Royal Bank of Canada set a $130.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Finally, Wells Fargo & Company upgraded shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $148.00 to $155.00 in a research report on Monday, March 13th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.17.

Insiders Place Their Bets

In related news, Director Mellody L. Hobson bought 375 shares of the stock in a transaction 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 completion of the purchase, the director now directly owns 22,040 shares in the company, valued at approximately $2,965,041.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 375 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 19th. The shares were acquired at an average price of $134.53 per share, with a total value of $50,448.75. Following the completion of the transaction, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary E. Erdoes sold 10,340 shares of the 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 in the company, valued at approximately $76,336,839.44. 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 over the last 90 days. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Down 0.3 %

Shares of JPM opened at $126.84 on Friday. 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 50-day moving average price of $138.20 and a 200 day moving average price of $129.59. The firm has a market capitalization of $373.33 billion, a P/E ratio of 10.50, a P/E/G ratio of 1.97 and a beta of 1.12.

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 for the quarter, topping the consensus estimate of $3.11 by $0.46. The company had revenue of $34.55 billion during 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%. JPMorgan Chase & Co.’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.33 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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