Profund Advisors LLC Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 26th, 2023

Profund Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,840 shares of the financial services provider’s stock after purchasing an additional 3,086 shares during the quarter. Profund Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $8,159,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Dfpg Investments LLC raised its holdings in JPMorgan Chase & Co. by 30.6% in the fourth quarter. Dfpg Investments LLC now owns 23,350 shares of the financial services provider’s stock valued at $3,260,000 after acquiring an additional 5,477 shares in the last quarter. Waverton Investment Management Ltd raised its holdings in JPMorgan Chase & Co. by 8.5% in the fourth quarter. Waverton Investment Management Ltd now owns 142,780 shares of the financial services provider’s stock valued at $19,147,000 after acquiring an additional 11,161 shares in the last quarter. Spinnaker Trust raised its holdings in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Spinnaker Trust now owns 72,619 shares of the financial services provider’s stock valued at $9,739,000 after acquiring an additional 1,027 shares in the last quarter. Resources Investment Advisors LLC. raised its holdings in JPMorgan Chase & Co. by 63.2% during the fourth quarter. Resources Investment Advisors LLC. now owns 110,473 shares of the financial services provider’s stock worth $14,814,000 after purchasing an additional 42,792 shares in the last quarter. Finally, Compton Wealth Advisory Group LLC raised its holdings in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Compton Wealth Advisory Group LLC now owns 24,931 shares of the financial services provider’s stock worth $3,343,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on JPM shares. Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a report on Monday, April 17th. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $153.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. Royal Bank of Canada lowered their target price on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, March 24th. Evercore ISI lowered their price objective on shares of JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 5th. Finally, UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.94.

JPMorgan Chase & Co. Trading Down 2.2 %

NYSE:JPM opened at $137.67 on Wednesday. The company has a market capitalization of $403.57 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 2.04 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. has a 52-week low of $101.28 and a 52-week high of $144.34. The stock has a fifty day simple moving average of $134.67 and a 200-day simple moving average of $133.07.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is 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.