Cardinal Strategic Wealth Guidance Sells 110 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 28th, 2023

Cardinal Strategic Wealth Guidance lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,013 shares of the financial services provider’s stock after selling 110 shares during the period. Cardinal Strategic Wealth Guidance’s holdings in JPMorgan Chase & Co. were worth $671,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Retirement Financial Solutions LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $26,000. HBC Financial Services PLLC grew its holdings 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 valued at $27,000 after purchasing an additional 90 shares during the period. Creative Capital Management Investments LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $30,000. Horizons Wealth Management bought a new stake in JPMorgan Chase & Co. during the second quarter valued at about $39,000. Finally, New Millennium Group LLC bought a new stake in JPMorgan Chase & Co. during the second quarter valued at about $39,000. Institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Trading Up 2.9 %

Shares of JPM stock opened at $128.49 on Tuesday. 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 stock’s 50 day simple moving average is $137.54 and its two-hundred day simple moving average is $129.95. The company has a market cap of $378.19 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings data 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. The business had revenue of $34.55 billion during the quarter, compared to analyst estimates of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the company earned $3.33 EPS. Research analysts predict that JPMorgan Chase & Co. will post 12.88 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is 33.11%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction that occurred on 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 directly owns 48,311 shares in the company, valued at $6,778,516.41. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Mary E. Erdoes sold 10,340 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.29, for a total value of $1,450,598.60. Following the sale, the chief executive officer now directly owns 544,136 shares in the company, valued at $76,336,839.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction that occurred on 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 completion of the sale, the general counsel now owns 48,311 shares in the company, valued at $6,778,516.41. The disclosure for this sale can be found here. Insiders sold 37,887 shares of company stock valued at $5,315,762 in the last ninety days. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup boosted their price objective on JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $167.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, February 24th. Barclays boosted 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. Finally, StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.