Investment Research & Advisory Group Inc. Sells 636 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 20th, 2023

Investment Research & Advisory Group Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,273 shares of the financial services provider’s stock after selling 636 shares during the quarter. JPMorgan Chase & Co. comprises 2.1% of Investment Research & Advisory Group Inc.’s portfolio, making the stock its 15th largest position. Investment Research & Advisory Group Inc.’s holdings in JPMorgan Chase & Co. were worth $3,255,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nova R Wealth Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $224,000. Wafra Inc. grew its holdings in JPMorgan Chase & Co. by 34.9% during the fourth quarter. Wafra Inc. now owns 272,398 shares of the financial services provider’s stock valued at $36,529,000 after purchasing an additional 70,473 shares during the period. Fulton Breakefield Broenniman LLC increased its stake in JPMorgan Chase & Co. by 52.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 7,953 shares of the financial services provider’s stock valued at $1,067,000 after purchasing an additional 2,740 shares in the last quarter. Syntal Capital Partners LLC raised its holdings in JPMorgan Chase & Co. by 1.3% in the fourth quarter. Syntal Capital Partners LLC now owns 9,475 shares of the financial services provider’s stock worth $1,271,000 after purchasing an additional 117 shares during the period. Finally, Summit Global Investments boosted its position in shares of JPMorgan Chase & Co. by 23.9% during the fourth quarter. Summit Global Investments now owns 48,295 shares of the financial services provider’s stock worth $6,476,000 after purchasing an additional 9,325 shares in the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on JPM shares. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday. BMO Capital Markets lifted their price objective on JPMorgan Chase & Co. from $154.00 to $169.00 and gave the company a “market perform” rating in a report on Monday. Royal Bank of Canada lowered 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. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Evercore ISI lowered their price objective on shares of JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating for the company in a research report on Wednesday, April 5th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.94.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE 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 50 day moving average price of $134.82 and a 200 day moving average price of $132.03. The stock has a market capitalization of $413.98 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. During the same period last year, the business earned $2.63 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. Analysts predict that JPMorgan Chase & Co. will post 13.13 earnings per share 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. Stockholders of record on Thursday, April 6th will be paid 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 2.83%. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.