tru Independence LLC Has $5.36 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 18th, 2023

tru Independence LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,937 shares of the financial services provider’s stock after acquiring an additional 565 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.7% of tru Independence LLC’s investment portfolio, making the stock its 27th largest position. tru Independence LLC’s holdings in JPMorgan Chase & Co. were worth $5,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after purchasing an additional 2,918,554 shares during the last quarter. Dimensional Fund Advisors LP increased its position in JPMorgan Chase & Co. by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 21,084,558 shares of the financial services provider’s stock worth $2,203,621,000 after buying an additional 1,058,790 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 805,196 shares during the period. Nuveen Asset Management LLC lifted its position in shares of 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 buying an additional 102,242 shares during the last quarter. Finally, Boston Partners boosted its stake 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 worth $1,061,182,000 after acquiring an additional 2,227,785 shares during the period. Institutional investors own 67.89% of the company’s stock.

Insider Buying and Selling 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, 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 $2,965,041.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

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

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

JPMorgan Chase & Co. Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on JPM shares. 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 report on Friday, March 24th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $154.00 to $169.00 and gave the company a “market perform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $155.00 to $145.00 in a report on Friday, January 6th. Finally, Evercore ISI lowered their target price on 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. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. 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.