Fiduciary Alliance LLC Buys New Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Mar 29th, 2023

Fiduciary Alliance LLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 95,978 shares of the financial services provider’s stock, valued at approximately $12,871,000. JPMorgan Chase & Co. accounts for 3.3% of Fiduciary Alliance LLC’s holdings, making the stock its 6th biggest holding.

Several other large investors also recently added to or reduced their stakes in JPM. Price T Rowe Associates Inc. MD grew its position in JPMorgan Chase & Co. by 23.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock valued at $3,566,044,000 after buying an additional 5,978,393 shares during the period. Public Investment Fund purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $433,667,000. Barclays PLC increased its stake in shares of JPMorgan Chase & Co. by 77.8% in the third quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock worth $843,433,000 after purchasing an additional 3,531,637 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 1.1% in the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after purchasing an additional 2,918,554 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of JPMorgan Chase & Co. by 7,427.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after purchasing an additional 2,628,701 shares in the last quarter. 67.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. Morgan Stanley increased their price objective on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, February 24th. Credit Suisse Group set a $155.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, February 27th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Finally, Wells Fargo & Company upgraded shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $148.00 to $155.00 in a research report on Monday, March 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.28.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Mellody L. Hobson bought 375 shares of the stock in a transaction dated Thursday, January 19th. The stock was purchased at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the acquisition, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Mary E. Erdoes sold 10,340 shares of the firm’s stock in a transaction dated 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 owns 544,136 shares in the company, valued at approximately $76,336,839.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mellody L. Hobson bought 375 shares of the stock in a transaction dated Thursday, January 19th. The stock was purchased at an average price of $134.53 per share, with a total value of $50,448.75. Following the acquisition, the director now directly owns 22,040 shares in the company, valued at approximately $2,965,041.20. The disclosure for this purchase can be found here. In the last quarter, insiders sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $128.88 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. 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 fifty day simple moving average of $137.31 and a two-hundred day simple moving average of $130.02. The firm has a market capitalization of $379.34 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 1.94 and a beta of 1.12.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 3.10%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 33.11%.

About JPMorgan Chase & Co.

(Get Rating)

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.