Charles Schwab Trust Co Sells 402 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 12th, 2023

Charles Schwab Trust Co cut its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,663 shares of the financial services provider’s stock after selling 402 shares during the quarter. Charles Schwab Trust Co’s holdings in JPMorgan Chase & Co. were worth $3,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Financial Solutions LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $26,000. HBC Financial Services PLLC lifted 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 valued at $27,000 after buying an additional 90 shares during the period. Creative Capital Management Investments LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $30,000. New Millennium Group LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter worth $39,000. Finally, Bellwether Advisors LLC raised its holdings in JPMorgan Chase & Co. by 119.1% in the 3rd quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 268 shares during the period. 67.89% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.5 %

Shares of JPMorgan Chase & Co. stock opened at $128.52 on Wednesday. The firm’s 50 day moving average price is $135.41 and its 200-day moving average price is $130.94. 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 52-week low of $101.28 and a 52-week high of $144.34. The company has a market cap of $376.75 billion, a P/E ratio of 10.64, a PEG ratio of 1.99 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. During the same quarter in the previous year, the firm earned $3.33 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 12.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.11%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 33.11%.

Analysts Set New Price Targets

A number of equities analysts recently commented on JPM shares. Deutsche Bank Aktiengesellschaft cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and decreased their target price for the stock from $155.00 to $145.00 in a report on Friday, January 6th. Evercore ISI decreased their target price on JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating on the stock in a report on Wednesday, April 5th. Piper Sandler raised their target price on JPMorgan Chase & Co. from $150.00 to $157.00 in a report on Tuesday, January 17th. Royal Bank of Canada cut their price target on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. Finally, Oppenheimer cut their price target on JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating for the company in a research note on Thursday, March 23rd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.33.

Insiders Place Their Bets

In related news, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction on Thursday, January 19th. The shares were bought at an average price of $134.53 per share, with a total value of $50,448.75. Following the transaction, the director now owns 22,040 shares in the company, valued at $2,965,041.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other JPMorgan Chase & Co. news, Director Mellody L. Hobson acquired 375 shares of the company’s stock in a transaction dated Thursday, January 19th. The shares were acquired at an average cost 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 purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mary E. Erdoes sold 10,340 shares of the business’s 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 transaction, the chief executive officer now owns 544,136 shares of the company’s stock, valued at $76,336,839.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,887 shares of company stock valued at $5,315,762. Insiders own 0.79% of the company’s stock.

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.