Vance Wealth Inc. Sells 120 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 15th, 2023

Vance Wealth Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,849 shares of the financial services provider’s stock after selling 120 shares during the period. Vance Wealth Inc.’s holdings in JPMorgan Chase & Co. were worth $248,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in JPMorgan Chase & Co. by 1.1% in the third 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. Dimensional Fund Advisors LP boosted its holdings in JPMorgan Chase & Co. by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,084,558 shares of the financial services provider’s stock valued at $2,203,621,000 after acquiring an additional 1,058,790 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in JPMorgan Chase & Co. by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock valued at $2,536,598,000 after acquiring an additional 805,196 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 0.7% in the third quarter. Nuveen Asset Management LLC now owns 15,606,783 shares of the financial services provider’s stock valued at $1,630,909,000 after acquiring an additional 102,242 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of JPMorgan Chase & Co. by 28.4% during the 3rd quarter. Boston Partners now owns 10,063,918 shares of the financial services provider’s stock valued at $1,061,182,000 after buying an additional 2,227,785 shares in the last quarter. Institutional investors own 67.89% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Mary E. Erdoes sold 10,340 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total value of $1,450,598.60. Following the transaction, the chief executive officer now owns 544,136 shares in the company, valued at approximately $76,336,839.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction 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 purchase, the director now owns 22,040 shares in the company, valued at $2,965,041.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary E. Erdoes sold 10,340 shares of the firm’s 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 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 have sold 37,887 shares of company stock worth $5,315,762 in the last quarter. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on JPM shares. Credit Suisse Group set a $155.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, February 27th. Wells Fargo & Company raised shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $148.00 to $155.00 in a research report on Monday, March 13th. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and cut their price objective for the company from $155.00 to $145.00 in a research report on Friday, January 6th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $150.88.

JPMorgan Chase & Co. Price Performance

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. The stock has a market capitalization of $406.68 billion, a P/E ratio of 11.48, a P/E/G ratio of 2.01 and a beta of 1.10. The company’s 50-day simple moving average is $134.94 and its two-hundred day simple moving average is $131.13. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $35.77 billion. During the same quarter in the prior year, the business earned $2.63 EPS. The business’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, analysts predict that JPMorgan Chase & Co. will post 12.73 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.