Summit Global Investments Has $6.48 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Apr 20th, 2023

Summit Global Investments increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 23.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,295 shares of the financial services provider’s stock after buying an additional 9,325 shares during the quarter. Summit Global Investments’ holdings in JPMorgan Chase & Co. were worth $6,476,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in JPM. Cottage Street Advisors LLC lifted its stake in shares of 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 during the last quarter. Barclays PLC increased its holdings in JPMorgan Chase & Co. by 77.8% in the third quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock valued at $843,433,000 after purchasing an additional 3,531,637 shares during the period. Vanguard Group Inc. increased 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 purchasing an additional 2,918,554 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in JPMorgan Chase & Co. by 7,427.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock valued at $363,169,000 after purchasing an additional 2,628,701 shares during the period. Finally, Federated Hermes Inc. increased its holdings in JPMorgan Chase & Co. by 265.8% in the third quarter. Federated Hermes Inc. now owns 3,391,632 shares of the financial services provider’s stock valued at $354,426,000 after purchasing an additional 2,464,462 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $141.22 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a market capitalization of $413.98 billion, a PE ratio of 10.42, a PEG ratio of 2.18 and a beta of 1.10. The company has a 50 day moving average price of $134.82 and a 200-day moving average price of $132.03. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. 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 prior year, the business earned $2.63 earnings per share. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 13.13 earnings per share 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. 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 2.83%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is 29.52%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on JPM shares. Morgan Stanley increased their price target on JPMorgan Chase & Co. from $153.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com started coverage on JPMorgan Chase & Co. in a report on Thursday, March 16th. They set a “hold” rating for the company. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $154.00 to $169.00 and gave the stock a “market perform” rating in a report on Monday. Finally, Royal Bank of Canada reduced their target price 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. 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, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $154.94.

JPMorgan Chase & Co. Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Get Rating).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.