Peak Asset Management LLC Has $12.68 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 18th, 2023

Peak Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,554 shares of the financial services provider’s stock after acquiring an additional 314 shares during the period. JPMorgan Chase & Co. makes up 3.3% of Peak Asset Management LLC’s holdings, making the stock its 7th largest position. Peak Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $12,680,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Retirement Financial Solutions LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $26,000. Creative Capital Management Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $30,000. Bellwether Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 119.1% during the 3rd quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after buying an additional 268 shares in the last quarter. Delos Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 24.4% in the 3rd quarter. Delos Wealth Advisors LLC now owns 505 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 99 shares during the period. Finally, VitalStone Financial LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $58,000. Institutional investors own 67.89% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction on Thursday, January 19th. The shares were bought at an average cost of $134.53 per share, with a total value of $50,448.75. Following the transaction, the director now directly owns 22,040 shares in the company, valued at approximately $2,965,041.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BMO Capital Markets boosted their target price on JPMorgan Chase & Co. from $154.00 to $169.00 and gave the stock a “market perform” rating in a report on Monday. Barclays cut their price objective on JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a report on Wednesday, April 12th. Keefe, Bruyette & Woods boosted their price target on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research report on Monday. Royal Bank of Canada reduced their price objective on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, March 24th. Finally, Morgan Stanley boosted their target price on shares of JPMorgan Chase & Co. from $153.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday. Six investment 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 stock has a consensus rating of “Moderate Buy” and an average target price of $154.67.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $139.83 on Tuesday. The company has a quick ratio of 0.84, a current 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. The business has a fifty day simple moving average of $134.94 and a 200-day simple moving average of $131.47. The stock has a market cap of $409.91 billion, a PE ratio of 10.32, a price-to-earnings-growth 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 analysts’ consensus estimates of $3.41 by $0.69. 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 the consensus estimate of $35.77 billion. During the same period in the previous year, the firm posted $2.63 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 12.73 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

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.