Wilsey Asset Management Inc. Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 13th, 2023

Wilsey Asset Management Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,967 shares of the financial services provider’s stock after selling 831 shares during the period. JPMorgan Chase & Co. makes up about 5.8% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 7th biggest position. Wilsey Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $24,268,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Safeguard Investment Advisory Group LLC increased its position in JPMorgan Chase & Co. by 8.6% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 2,226 shares of the financial services provider’s stock worth $299,000 after buying an additional 177 shares in the last quarter. GDS Wealth Management increased its holdings in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. GDS Wealth Management now owns 49,196 shares of the financial services provider’s stock worth $6,597,000 after purchasing an additional 291 shares during the last quarter. Eagle Bay Advisors LLC increased its stake in JPMorgan Chase & Co. by 5.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 6,278 shares of the financial services provider’s stock worth $842,000 after acquiring an additional 300 shares during the last quarter. Paulson Wealth Management Inc. increased its position in JPMorgan Chase & Co. by 3.2% in the fourth quarter. Paulson Wealth Management Inc. now owns 9,018 shares of the financial services provider’s stock worth $1,209,000 after purchasing an additional 283 shares during the last quarter. Finally, Strs Ohio raised its position in shares of JPMorgan Chase & Co. by 2.1% during the 4th quarter. Strs Ohio now owns 1,538,461 shares of the financial services provider’s stock valued at $206,307,000 after buying an additional 31,771 shares in the last quarter. 67.89% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.0 %

JPMorgan Chase & Co. stock opened at $128.50 on Thursday. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. The stock has a 50-day moving average price of $135.41 and a 200 day moving average price of $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. The company has a market capitalization of $376.69 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 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 for the quarter, compared to the consensus estimate of $34.23 billion. During the same period in the prior year, the firm earned $3.33 EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 12.82 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 paid 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 dividend yield of 3.11%. JPMorgan Chase & Co.’s payout ratio is currently 33.11%.

Insider Activity

In related news, 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 transaction of $1,450,598.60. Following the completion of the transaction, the chief executive officer now directly owns 544,136 shares in the company, valued at $76,336,839.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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, with a total value of $50,448.75. Following the completion of the acquisition, the director now owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mary E. Erdoes sold 10,340 shares of the firm’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 sale, the chief executive officer now owns 544,136 shares in the company, valued at approximately $76,336,839.44. The disclosure for this sale can be found here. Insiders sold a total of 37,887 shares of company stock valued at $5,315,762 in the last quarter. 0.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Credit Suisse Group set a $155.00 price target on JPMorgan Chase & Co. in a report on Monday, February 27th. UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a research note on Friday, January 13th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Morgan Stanley reduced 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, April 5th. Finally, Royal Bank of Canada decreased their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, March 24th. 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $148.78.

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.