Beaumont Asset Management L.L.C. Boosts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 28th, 2023

Beaumont Asset Management L.L.C. increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,089 shares of the financial services provider’s stock after purchasing an additional 83 shares during the period. Beaumont Asset Management L.L.C.’s holdings in JPMorgan Chase & Co. were worth $816,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in JPM. Retirement Financial Solutions LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $26,000. HBC Financial Services PLLC grew its position in JPMorgan Chase & Co. by 61.2% during the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after buying an additional 90 shares during the period. Creative Capital Management Investments LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $30,000. Horizons Wealth Management acquired a new position in JPMorgan Chase & Co. during the second quarter worth about $39,000. Finally, New Millennium Group LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth about $39,000. 67.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on JPM shares. Royal Bank of Canada lowered their target price on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Wells Fargo & Company upgraded shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $148.00 to $155.00 in a research report on Monday, March 13th. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, February 24th. Finally, Barclays increased their price target on shares of 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 investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $149.28.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 375 shares of the business’s 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 purchase, the director now owns 22,040 shares in the company, valued at approximately $2,965,041.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Vice Chairman Peter Scher sold 4,399 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total value of $617,267.68. Following the transaction, the insider now owns 36,369 shares of the company’s stock, valued at approximately $5,103,298.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mellody L. Hobson bought 375 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was acquired at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the purchase, the director now owns 22,040 shares in the company, valued at approximately $2,965,041.20. The disclosure for this purchase can be found here. Insiders have sold a total of 37,887 shares of company stock valued at $5,315,762 over the last quarter. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $128.49 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. The company has a market cap of $378.19 billion, a P/E ratio of 10.64, a P/E/G ratio of 1.94 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $144.34. The firm’s 50 day moving average is $137.54 and its two-hundred day moving average is $129.95.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. The company had revenue of $34.55 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.33 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 12.88 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.11%.

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.