Centerpoint Advisors LLC Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 7th, 2023

Centerpoint Advisors LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,889 shares of the financial services provider’s stock after purchasing an additional 188 shares during the quarter. Centerpoint Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $790,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in JPM. Moseley Investment Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 4th quarter. Moseley Investment Management Inc. now owns 16,806 shares of the financial services provider’s stock valued at $2,254,000 after buying an additional 182 shares in the last quarter. Lyell Wealth Management LP boosted its holdings in shares of JPMorgan Chase & Co. by 1.6% during the 4th quarter. Lyell Wealth Management LP now owns 87,778 shares of the financial services provider’s stock valued at $11,771,000 after buying an additional 1,387 shares in the last quarter. Occidental Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 9.5% during the 4th quarter. Occidental Asset Management LLC now owns 16,052 shares of the financial services provider’s stock valued at $2,153,000 after buying an additional 1,390 shares in the last quarter. Foster Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 13.7% during the 4th quarter. Foster Group Inc. now owns 5,044 shares of the financial services provider’s stock valued at $676,000 after buying an additional 606 shares in the last quarter. Finally, Bourne Lent Asset Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $201,000. 67.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 cost of $134.53 per share, for a total transaction of $50,448.75. Following the purchase, the director now directly owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 cost of $134.53 per share, for a total transaction of $50,448.75. Following the purchase, the director now directly owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 23,148 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total value of $3,247,895.88. Following the completion of the transaction, the general counsel now owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,887 shares of company stock valued at $5,315,762. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.1 %

JPMorgan Chase & Co. stock opened at $127.47 on Friday. The firm has a 50 day moving average of $136.12 and a 200 day moving average of $130.39. The firm has a market capitalization of $375.19 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 2.02 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month 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 earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.46. The company had revenue of $34.55 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.33 EPS. As a group, research analysts predict that JPMorgan Chase & Co. will post 12.84 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced 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 3.14%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is 33.11%.

Analyst Ratings Changes

A number of analysts have recently commented on JPM shares. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, March 16th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and dropped their target price for the company from $155.00 to $145.00 in a report on Friday, January 6th. Barclays upped their price target on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. Finally, Wells Fargo & Company upgraded shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $148.00 to $155.00 in a research note on Monday, March 13th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.33.

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.