Canton Hathaway LLC Has $2.73 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 1st, 2023

Canton Hathaway LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,324 shares of the financial services provider’s stock after selling 2,200 shares during the period. JPMorgan Chase & Co. accounts for about 0.9% of Canton Hathaway LLC’s portfolio, making the stock its 15th biggest holding. Canton Hathaway LLC’s holdings in JPMorgan Chase & Co. were worth $2,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of JPMorgan Chase & Co. by 23.3% in the 2nd 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 purchasing an additional 5,978,393 shares during the period. Public Investment Fund acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $433,667,000. Barclays PLC raised its stake in JPMorgan Chase & Co. by 77.8% during the 3rd quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock worth $843,433,000 after buying an additional 3,531,637 shares during the period. Vanguard Group Inc. raised its stake in JPMorgan Chase & Co. by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after buying an additional 2,918,554 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in JPMorgan Chase & Co. by 7,427.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after buying an additional 2,628,701 shares during the period. 67.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on JPM shares. Citigroup upped their price target on JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Credit Suisse Group set a $155.00 price objective on JPMorgan Chase & Co. in a report on Monday, February 27th. Wells Fargo & Company raised JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $148.00 to $155.00 in a report on Monday, March 13th. Royal Bank of Canada decreased their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, March 24th. Finally, Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.28.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $130.31 on Friday. The firm’s 50 day moving average price is $136.94 and its 200-day moving average price is $130.07. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $144.34. The firm has a market cap of $383.55 billion, a P/E ratio of 10.79, a P/E/G ratio of 2.00 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share 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 net margin of 24.34% and a return on equity of 14.68%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.33 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 33.11%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Mary E. Erdoes sold 10,340 shares of the company’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 sale, the chief executive officer now owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The transaction was disclosed in a filing with the SEC, which is available through 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 shares were sold at an average price of $140.29, for a total transaction 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 approximately $76,336,839.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 23,148 shares of the company’s stock in a transaction 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 sale, the general counsel now directly owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The disclosure for this sale can be found here. Insiders have sold 37,887 shares of company stock valued at $5,315,762 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.

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.