Ascent Wealth Partners LLC Sells 509 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 26th, 2023

Ascent Wealth Partners LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,842 shares of the financial services provider’s stock after selling 509 shares during the period. JPMorgan Chase & Co. makes up about 1.4% of Ascent Wealth Partners LLC’s portfolio, making the stock its 24th largest holding. Ascent Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $6,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Financial Solutions LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $26,000. Creative Capital Management Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $30,000. Capital Directions Investment Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. VitalStone Financial LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $58,000. Finally, Marshall & Sullivan Inc. WA acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $60,000. Institutional investors own 67.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Oppenheimer upped their price target on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the company an “outperformer” rating in a research report on Monday, April 17th. Barclays decreased their price target on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, April 12th. Finally, The Goldman Sachs Group upped their price target on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $154.94.

JPMorgan Chase & Co. Stock Down 2.2 %

Shares of NYSE JPM opened at $137.67 on Wednesday. The firm has a market cap of $403.57 billion, a PE ratio of 10.16, a P/E/G ratio of 2.04 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34. The company’s fifty day simple moving average is $134.67 and its 200 day simple moving average is $133.07. 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 issued its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.69. The business had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. JPMorgan Chase & Co.’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.63 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 13.76 earnings per share 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. Shareholders of record on Thursday, April 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.52%.

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.