QP Wealth Management LLC Sells 346 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Mar 26th, 2023

QP Wealth Management LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,760 shares of the financial services provider’s stock after selling 346 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.6% of QP Wealth Management LLC’s holdings, making the stock its 24th largest holding. QP Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,041,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. HBC Financial Services PLLC raised its holdings in JPMorgan Chase & Co. by 61.2% during the 2nd 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. Creative Capital Management Investments LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $30,000. Horizons Wealth Management purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $39,000. New Millennium Group LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $39,000. Finally, Parkwood LLC raised its holdings in JPMorgan Chase & Co. by 7.1% during the 2nd 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. 67.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent research reports. Piper Sandler increased their price target on JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Credit Suisse Group set a $155.00 target price on JPMorgan Chase & Co. in a research report on Monday, February 27th. UBS Group set a $156.00 target price on JPMorgan Chase & Co. in a research report on Friday, January 13th. Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, February 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $155.00 to $145.00 in a research report on Friday, January 6th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $149.28.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Mary E. Erdoes sold 10,340 shares of the business’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 owns 544,136 shares in the company, valued at $76,336,839.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mary E. Erdoes sold 10,340 shares of the business’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 owns 544,136 shares in the company, valued at $76,336,839.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 23,148 shares of the business’s stock in a transaction dated 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 sale, the general counsel now owns 48,311 shares in the company, valued at approximately $6,778,516.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,887 shares of company stock worth $5,315,762. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $124.91 on Friday. The business’s 50-day moving average is $137.83 and its two-hundred day moving average is $129.78. 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. The firm has a market capitalization of $367.65 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 1.97 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.46. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. During the same quarter in the previous year, the firm earned $3.33 earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 12.88 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.20%. JPMorgan Chase & Co.’s payout ratio is 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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