Altus Wealth Group LLC Has $1.03 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Mar 27th, 2023

Altus Wealth Group LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,669 shares of the financial services provider’s stock after purchasing an additional 1,388 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.8% of Altus Wealth Group LLC’s portfolio, making the stock its 27th largest position. Altus Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HBC Financial Services PLLC grew 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 worth $27,000 after acquiring an additional 90 shares in the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $30,000. Horizons Wealth Management bought a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $39,000. New Millennium Group LLC bought a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $39,000. Finally, Parkwood LLC grew its holdings in shares of JPMorgan Chase & Co. by 7.1% in the second quarter. Parkwood LLC now owns 43,703 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 2,885 shares during the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.5 %

Shares of JPM opened at $124.91 on Monday. 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 business’s 50 day simple moving average is $137.83 and its 200-day simple moving average is $129.88. The stock has a market capitalization of $367.65 billion, a price-to-earnings 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 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.46. The company had revenue of $34.55 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.33 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 12.88 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.20%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 33.11%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the company’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 transaction, the general counsel now directly owns 48,311 shares of the company’s stock, valued at approximately $6,778,516.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Stacey Friedman sold 23,148 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the completion of the transaction, the general counsel now owns 48,311 shares in the company, valued at approximately $6,778,516.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mary E. Erdoes sold 10,340 shares of JPMorgan Chase & Co. 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 sale, the chief executive officer now directly 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 ninety days, insiders have sold 37,887 shares of company stock valued at $5,315,762. Corporate insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. 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. StockNews.com began coverage on JPMorgan Chase & Co. in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Wells Fargo & Company upgraded JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $148.00 to $155.00 in a research report on Monday, March 13th. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. Finally, Morgan Stanley increased 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. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.28.

JPMorgan Chase & Co. 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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