Janney Montgomery Scott LLC Has $227.59 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 23rd, 2023

Janney Montgomery Scott LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,697,137 shares of the financial services provider’s stock after purchasing an additional 39,498 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.9% of Janney Montgomery Scott LLC’s investment portfolio, making the stock its 11th largest holding. Janney Montgomery Scott LLC owned about 0.06% of JPMorgan Chase & Co. worth $227,586,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 2,918,554 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of JPMorgan Chase & Co. by 5.3% in the 3rd 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. boosted its holdings in shares of JPMorgan Chase & Co. by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock worth $2,536,598,000 after buying an additional 805,196 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 3rd quarter. Nuveen Asset Management LLC now owns 15,606,783 shares of the financial services provider’s stock worth $1,630,909,000 after buying an additional 102,242 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of JPMorgan Chase & Co. by 28.4% in the 3rd quarter. Boston Partners now owns 10,063,918 shares of the financial services provider’s stock worth $1,061,182,000 after buying an additional 2,227,785 shares during the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.2 %

Shares of JPM opened at $140.54 on Friday. The business’s 50-day moving average price is $134.82 and its 200-day moving average price is $132.32. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34. The stock has a market cap of $411.99 billion, a PE ratio of 10.37, a P/E/G ratio of 2.05 and a beta of 1.10. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.07.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly 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 return on equity of 16.02% and a net margin of 23.73%. The firm had revenue of $38.35 billion for the quarter, compared to analysts’ expectations of $35.77 billion. During the same period in the prior year, the business posted $2.63 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 13.76 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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 issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is 29.52%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday, April 17th. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Royal Bank of Canada cut their price target on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, March 24th. The Goldman Sachs Group boosted their price target on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday, April 14th. Finally, UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a research note on Friday, January 13th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $154.94.

JPMorgan Chase & Co. Profile

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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.