Stratos Wealth Advisors LLC Purchases 33,504 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 1st, 2023

Stratos Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 108.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,372 shares of the financial services provider’s stock after acquiring an additional 33,504 shares during the period. JPMorgan Chase & Co. makes up 0.7% of Stratos Wealth Advisors LLC’s portfolio, making the stock its 21st biggest holding. Stratos Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $8,632,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P increased its stake in JPMorgan Chase & Co. by 81.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after buying an additional 99,636 shares during the last quarter. BCK Partners Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $2,455,000. LSV Asset Management boosted its holdings in shares of JPMorgan Chase & Co. by 35.6% during the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after buying an additional 9,800 shares during the period. Wsfs Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 70.8% during the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock worth $575,000 after buying an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1,451.4% during the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after buying an additional 3,527 shares during the period. 67.89% of the stock is currently owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the completion of the sale, the general counsel now directly owns 48,311 shares in the company, valued at $6,778,516.41. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the transaction, the general counsel now directly owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mellody L. Hobson acquired 375 shares of the company’s stock in a transaction on Thursday, January 19th. The stock was acquired at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the purchase, the director now directly owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The disclosure for this purchase can be found here. Insiders sold a total of 37,887 shares of company stock worth $5,315,762 over the last three months. 0.79% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on JPM shares. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Credit Suisse Group set a $155.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, February 27th. Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $148.00 to $155.00 in a report on Monday, March 13th. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, February 24th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.28.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $130.31 on Friday. The company has a 50 day moving average of $136.94 and a 200-day moving average of $130.07. The company has a market cap of $383.55 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $144.34. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $34.23 billion. During the same period in the prior year, the company earned $3.33 EPS. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

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.