Secure Asset Management LLC Sells 582 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 3rd, 2023

Secure Asset Management LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,856 shares of the financial services provider’s stock after selling 582 shares during the period. JPMorgan Chase & Co. makes up 1.3% of Secure Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. Secure Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,736,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Retirement Financial Solutions LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $26,000. HBC Financial Services PLLC boosted its holdings in shares of JPMorgan Chase & Co. by 61.2% during the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after buying an additional 90 shares in the last quarter. Creative Capital Management Investments LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $30,000. Horizons Wealth Management bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $39,000. Finally, New Millennium Group LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $39,000. 67.89% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Up 1.2 %

Shares of JPMorgan Chase & Co. stock opened at $130.31 on Monday. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $144.34. The firm has a market cap of $383.55 billion, a PE ratio of 10.79, a P/E/G ratio of 2.00 and a beta of 1.12. The stock has a fifty day moving average price of $136.94 and a 200-day moving average price of $130.26. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data 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 return on equity of 14.68% and a net margin of 24.34%. The company had revenue of $34.55 billion during the quarter, compared to analyst estimates of $34.23 billion. During the same quarter last year, the firm posted $3.33 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities research analysts anticipate that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be issued 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%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. 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 report on Friday, March 24th. StockNews.com initiated coverage on JPMorgan Chase & Co. in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Morgan Stanley increased their target price on JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, February 24th. Piper Sandler increased their target price on JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Finally, Barclays increased their price target on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.28.

Insider Buying and Selling

In related news, Director Mellody L. Hobson bought 375 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 19th. The stock was acquired at an average price of $134.53 per share, with a total value of $50,448.75. Following the acquisition, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Mellody L. Hobson bought 375 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 19th. The stock was acquired at an average price of $134.53 per share, with a total value of $50,448.75. Following the acquisition, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary E. Erdoes sold 10,340 shares of JPMorgan Chase & Co. stock in a transaction dated 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 transaction, the chief executive officer now directly owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,887 shares of company stock valued at $5,315,762. 0.79% of the stock is owned by 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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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