Charter Oak Capital Management LLC Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 2nd, 2023

Charter Oak Capital Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,073 shares of the financial services provider’s stock after selling 153 shares during the quarter. Charter Oak Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sather Financial Group Inc lifted its stake in JPMorgan Chase & Co. by 1,416.9% in the 4th quarter. Sather Financial Group Inc now owns 108,704 shares of the financial services provider’s stock worth $14,577,000 after purchasing an additional 101,538 shares in the last quarter. HB Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 19.8% in the 4th quarter. HB Wealth Management LLC now owns 125,733 shares of the financial services provider’s stock worth $16,861,000 after purchasing an additional 20,769 shares in the last quarter. Montz Harcus Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 2.1% in the 4th quarter. Montz Harcus Wealth Management LLC now owns 7,511 shares of the financial services provider’s stock worth $1,007,000 after purchasing an additional 155 shares in the last quarter. Zimmermann Investment Management & Planning LLC lifted its stake in JPMorgan Chase & Co. by 8.8% in the 4th quarter. Zimmermann Investment Management & Planning LLC now owns 2,121 shares of the financial services provider’s stock worth $284,000 after purchasing an additional 172 shares in the last quarter. Finally, V Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 27.4% in the 4th quarter. V Wealth Advisors LLC now owns 33,399 shares of the financial services provider’s stock worth $4,479,000 after purchasing an additional 7,189 shares in the last quarter. 67.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JPM. UBS Group set a $156.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, February 24th. Citigroup raised their price target on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and cut their price target for the stock from $155.00 to $145.00 in a report on Friday, January 6th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.28.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 375 shares of the company’s stock in a transaction on Thursday, January 19th. The stock was acquired at an average price 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 in the company, valued at approximately $2,965,041.20. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Mary E. Erdoes sold 10,340 shares of JPMorgan Chase & Co. 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mellody L. Hobson acquired 375 shares of the firm’s stock in a transaction dated Thursday, January 19th. The shares were purchased at an average cost of $134.53 per share, with a total value 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 sold a total of 37,887 shares of company stock worth $5,315,762 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.2 %

JPMorgan Chase & Co. stock opened at $130.31 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $144.34. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a 50 day moving average price of $136.94 and a 200 day moving average price of $130.17. The company has a market capitalization 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. (NYSE:JPM – Get Rating) last posted its earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.46. The firm had revenue of $34.55 billion during 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 quarter last year, the firm earned $3.33 EPS. Research analysts expect that JPMorgan Chase & Co. will post 12.9 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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 paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 annualized dividend and a dividend yield of 3.07%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 33.11%.

JPMorgan Chase & Co. Company 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.