Schrum Private Wealth Management LLC Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 1st, 2023

Schrum Private Wealth Management LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,472 shares of the financial services provider’s stock after selling 488 shares during the period. JPMorgan Chase & Co. comprises 1.8% of Schrum Private Wealth Management LLC’s investment portfolio, making the stock its 12th biggest position. Schrum Private Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Financial Solutions LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $26,000. HBC Financial Services PLLC increased its stake in shares of 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 purchasing an additional 90 shares in the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $30,000. Horizons Wealth Management purchased a new stake in shares of 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. Hedge funds and other institutional investors own 67.89% of the company’s stock.

Insider Buying and Selling

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 shares were sold at an average price of $140.29, for a total transaction of $1,450,598.60. Following 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 legal filing with the SEC, which is available through this link. In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 10,340 shares of the stock in a transaction that occurred on 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 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 legal filing with the SEC, which is available at the SEC website. Also, Director Mellody L. Hobson acquired 375 shares of the company’s stock in a transaction on Thursday, January 19th. The stock was purchased at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the transaction, 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 in the last ninety days. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $130.31 on Friday. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $144.34. The firm’s 50 day moving average price is $136.94 and its 200-day moving average price is $130.07. 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. 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. (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. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The firm had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. During the same period in the prior year, the firm earned $3.33 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Investors 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 yield of 3.07%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is currently 33.11%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on JPM. StockNews.com began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, February 24th. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. Royal Bank of Canada lowered their price target 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, March 24th. Finally, Credit Suisse Group set a $155.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, February 27th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price 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.