BTC Capital Management Inc. Has $13.39 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 15th, 2023

BTC Capital Management Inc. increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,698 shares of the financial services provider’s stock after purchasing an additional 4,631 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.6% of BTC Capital Management Inc.’s holdings, making the stock its 11th biggest holding. BTC Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $13,392,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in JPM. Cottage Street Advisors LLC increased its position in JPMorgan Chase & Co. by 11,378.2% in the 4th quarter. Cottage Street Advisors LLC now owns 4,100,117 shares of the financial services provider’s stock valued at $674,000 after acquiring an additional 4,064,396 shares in the last quarter. Barclays PLC increased its position in JPMorgan Chase & Co. by 77.8% in the 3rd quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock valued at $843,433,000 after acquiring an additional 3,531,637 shares in the last quarter. Vanguard Group Inc. increased its position in JPMorgan Chase & Co. by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after acquiring an additional 2,918,554 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in JPMorgan Chase & Co. by 7,427.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock valued at $363,169,000 after acquiring an additional 2,628,701 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in JPMorgan Chase & Co. by 265.8% in the 3rd quarter. Federated Hermes Inc. now owns 3,391,632 shares of the financial services provider’s stock valued at $354,426,000 after acquiring an additional 2,464,462 shares in the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $138.73 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.84 and a current ratio of 0.84. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34. The firm’s 50 day moving average price is $134.94 and its two-hundred day moving average price is $131.13. The firm has a market cap of $406.68 billion, a P/E ratio of 11.48, a PEG ratio of 2.01 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.66. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The firm had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. During the same quarter in the previous year, the firm posted $2.63 earnings per share. The business’s revenue was up 24.8% on a year-over-year basis. On average, analysts forecast that JPMorgan Chase & Co. will post 12.73 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is currently 33.11%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total value of $3,247,895.88. Following the sale, the general counsel now directly owns 48,311 shares in the company, valued at $6,778,516.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total value of $617,267.68. Following the sale, the insider now directly owns 36,369 shares in the company, valued at $5,103,298.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the completion of the sale, the general counsel now owns 48,311 shares in the company, valued at $6,778,516.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,887 shares of company stock valued at $5,315,762. 0.79% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JPM. The Goldman Sachs Group raised their target price on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their target price for the company from $155.00 to $145.00 in a research note on Friday, January 6th. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 5th. Finally, Morgan Stanley reduced their price objective on shares of JPMorgan Chase & Co. from $173.00 to $153.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.88.

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.