HNP Capital LLC Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 8th, 2023

HNP Capital LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 33.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,900 shares of the financial services provider’s stock after selling 11,568 shares during the quarter. JPMorgan Chase & Co. makes up 0.9% of HNP Capital LLC’s holdings, making the stock its 26th biggest position. HNP Capital LLC’s holdings in JPMorgan Chase & Co. were worth $3,071,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Mellody L. Hobson acquired 375 shares of the stock in a transaction on Thursday, January 19th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $2,965,041.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Mellody L. Hobson acquired 375 shares of the firm’s stock in a transaction on Thursday, January 19th. The shares were purchased at an average price 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 of the company’s stock, valued at $2,965,041.20. The transaction was disclosed in a document filed 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 that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.29, for a total value of $1,450,598.60. Following the completion of the sale, the chief executive officer now owns 544,136 shares in the company, valued at $76,336,839.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $127.47 on Friday. The company has a 50-day simple moving average of $135.86 and a two-hundred day simple moving average of $130.46. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34. The firm has a market cap of $375.19 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 2.00 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, beating 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 business had revenue of $34.55 billion during the quarter, compared to analyst estimates of $34.23 billion. During the same period in the prior year, the business posted $3.33 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 12.84 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 3.14%. JPMorgan Chase & Co.’s payout ratio is currently 33.11%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Barclays increased their price objective on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a report on Tuesday, January 3rd. Wells Fargo & Company raised JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $148.00 to $155.00 in a report on Monday, March 13th. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Finally, Morgan Stanley decreased their target price on shares of JPMorgan Chase & Co. from $173.00 to $153.00 and set an “overweight” rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.33.

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.