Lincoln Capital Corp Buys 346 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 1st, 2023

Lincoln Capital Corp boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,038 shares of the financial services provider’s stock after acquiring an additional 346 shares during the period. JPMorgan Chase & Co. accounts for about 3.4% of Lincoln Capital Corp’s investment portfolio, making the stock its 8th largest position. Lincoln Capital Corp’s holdings in JPMorgan Chase & Co. were worth $5,503,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in JPM. Vanguard Group Inc. raised its holdings in 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 valued at $28,480,408,000 after buying an additional 2,918,554 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in JPMorgan Chase & Co. by 23.3% in 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. Legal & General Group Plc raised its holdings in JPMorgan Chase & Co. by 4.2% in the second quarter. Legal & General Group Plc now owns 21,156,537 shares of the financial services provider’s stock valued at $2,382,439,000 after buying an additional 847,094 shares during the period. Dimensional Fund Advisors LP raised its holdings in JPMorgan Chase & Co. by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,084,558 shares of the financial services provider’s stock valued at $2,203,621,000 after buying an additional 1,058,790 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in JPMorgan Chase & Co. by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock valued at $2,536,598,000 after buying an additional 805,196 shares during the period. 67.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Mary E. Erdoes sold 10,340 shares of the business’s 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 completion of the sale, the chief executive officer now owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Mary E. Erdoes sold 10,340 shares of the company’s stock in a transaction 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction 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 transaction, the general counsel now owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,887 shares of company stock valued at $5,315,762. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JPM. Credit Suisse Group set a $155.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, February 27th. Barclays raised their target price on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Citigroup raised their target price on JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Oppenheimer cut their target price on JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating on the stock in a research note on Thursday, March 23rd. Finally, Royal Bank of Canada cut their target price on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, March 24th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.28.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $130.31 on Friday. The firm has a 50-day moving average of $136.94 and a two-hundred day moving average of $130.07. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $383.55 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.00 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34.

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, topping the consensus estimate of $3.11 by $0.46. The firm had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.33 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.07%. JPMorgan Chase & Co.’s dividend payout ratio is 33.11%.

About JPMorgan Chase & Co.

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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.