Concourse Financial Group Securities Inc. Sells 79 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 18th, 2023

Concourse Financial Group Securities Inc. reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,592 shares of the financial services provider’s stock after selling 79 shares during the period. Concourse Financial Group Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $3,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comprehensive Financial Consultants Institutional Inc. lifted its stake in JPMorgan Chase & Co. by 4.0% in the fourth quarter. Comprehensive Financial Consultants Institutional Inc. now owns 26,867 shares of the financial services provider’s stock valued at $3,748,000 after buying an additional 1,033 shares during the period. Legend Financial Advisors Inc. raised its position in JPMorgan Chase & Co. by 18.3% in the 4th quarter. Legend Financial Advisors Inc. now owns 1,187 shares of the financial services provider’s stock valued at $159,000 after buying an additional 184 shares during the last quarter. Marietta Wealth Management LLC raised its position in JPMorgan Chase & Co. by 12.5% in the 4th quarter. Marietta Wealth Management LLC now owns 52,140 shares of the financial services provider’s stock valued at $6,992,000 after buying an additional 5,785 shares during the last quarter. Stewart & Patten Co. LLC raised its position in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Stewart & Patten Co. LLC now owns 218,880 shares of the financial services provider’s stock valued at $29,352,000 after buying an additional 685 shares during the last quarter. Finally, Welch Group LLC raised its position in JPMorgan Chase & Co. by 2.8% in the 4th quarter. Welch Group LLC now owns 309,585 shares of the financial services provider’s stock valued at $41,515,000 after buying an additional 8,467 shares during the last quarter. 67.89% of the stock is currently owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction dated Thursday, January 19th. The stock was purchased at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the acquisition, the director now owns 22,040 shares in the company, valued at $2,965,041.20. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $139.83 on Tuesday. The stock has a market capitalization of $409.91 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.18 and a beta of 1.10. The stock has a 50-day moving average price of $134.94 and a 200 day moving average price of $131.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The firm had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.63 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 12.73 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.52%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on JPM shares. The Goldman Sachs Group upped their price objective on JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday. 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. Credit Suisse Group set a $155.00 target price on JPMorgan Chase & Co. in a research note on Monday, February 27th. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Monday. Finally, StockNews.com initiated coverage on JPMorgan Chase & Co. in a report on Thursday, March 16th. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $154.67.

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.