JPMorgan Chase & Co. (NYSE:JPM) Stock Position Decreased by Wedbush Securities Inc.

Posted by Defense World Staff on Apr 20th, 2023

Wedbush Securities Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,859 shares of the financial services provider’s stock after selling 1,251 shares during the quarter. JPMorgan Chase & Co. accounts for 0.9% of Wedbush Securities Inc.’s portfolio, making the stock its 15th largest holding. Wedbush Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $15,671,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Cottage Street Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 11,378.2% in the fourth quarter. Cottage Street Advisors LLC now owns 4,100,117 shares of the financial services provider’s stock worth $674,000 after buying an additional 4,064,396 shares during the period. Barclays PLC boosted its position in shares of 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 worth $843,433,000 after buying an additional 3,531,637 shares during the period. Vanguard Group Inc. boosted its position in shares of 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 worth $28,480,408,000 after buying an additional 2,918,554 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of 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 worth $363,169,000 after buying an additional 2,628,701 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of 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 worth $354,426,000 after buying an additional 2,464,462 shares during the period. 67.89% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

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

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted 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 $3.41 by $0.69. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The business had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. During the same quarter in the previous year, the firm earned $2.63 EPS. The firm’s revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts predict that JPMorgan Chase & Co. will post 13.13 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 given a dividend of $1.00 per share. The ex-dividend date is Wednesday, April 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.83%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.

Analyst Ratings Changes

Several brokerages have recently commented on JPM. Piper Sandler raised their target price on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup boosted their target price on JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday. 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. Finally, BMO Capital Markets boosted their target price on JPMorgan Chase & Co. from $154.00 to $169.00 and gave the company a “market perform” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $154.94.

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.