Northstar Advisory Group LLC Purchases Shares of 2,472 JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 8th, 2023

Northstar Advisory Group LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,472 shares of the financial services provider’s stock, valued at approximately $331,000.

A number of other hedge funds have also bought and sold shares of the stock. Retirement Financial Solutions LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $26,000. HBC Financial Services PLLC boosted its holdings in shares of 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 valued at $27,000 after acquiring an additional 90 shares during the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $30,000. Horizons Wealth Management purchased a new position in shares of JPMorgan Chase & Co. during the second quarter worth $39,000. Finally, New Millennium Group LLC acquired a new position in JPMorgan Chase & Co. during the second quarter valued at $39,000. Institutional investors and hedge funds own 67.89% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 375 shares of the stock in a transaction that occurred on Thursday, January 19th. The shares were purchased at an average cost 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total transaction of $617,267.68. Following the transaction, the insider now owns 36,369 shares in the company, valued at $5,103,298.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mellody L. Hobson acquired 375 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 19th. The shares were bought at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the transaction, the director now 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. Over the last three months, insiders have sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JPM. Citigroup lifted their price objective on JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. StockNews.com started coverage on JPMorgan Chase & Co. in a report on Thursday, March 16th. They issued a “hold” rating for the company. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Morgan Stanley cut their target price on shares of JPMorgan Chase & Co. from $173.00 to $153.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Credit Suisse Group set a $155.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, February 27th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.33.

JPMorgan Chase & Co. Stock Down 0.1 %

JPM opened at $127.47 on Friday. 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 twelve month low of $101.28 and a twelve month high of $144.34. The company has a market cap of $375.19 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The company has a 50-day moving average price of $135.86 and a 200 day moving average price of $130.46.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS 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 firm had revenue of $34.55 billion during the quarter, compared to analysts’ expectations of $34.23 billion. During the same period in the previous year, the business earned $3.33 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 12.84 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.14%. JPMorgan Chase & Co.’s payout ratio is presently 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.