Welch & Forbes LLC Acquires 1,452 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Apr 26th, 2023

Welch & Forbes LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 737,093 shares of the financial services provider’s stock after purchasing an additional 1,452 shares during the period. JPMorgan Chase & Co. comprises approximately 1.8% of Welch & Forbes LLC’s investment portfolio, making the stock its 14th biggest position. Welch & Forbes LLC’s holdings in JPMorgan Chase & Co. were worth $98,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Retirement Financial Solutions LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $26,000. Creative Capital Management Investments LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $30,000. Capital Directions Investment Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $44,000. Bellwether Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 119.1% in the third quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 268 shares during the period. Finally, Delos Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 24.4% in the third quarter. Delos Wealth Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 99 shares during the period. Institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Down 2.2 %

Shares of NYSE JPM opened at $137.67 on Wednesday. The business has a fifty day moving average of $134.67 and a two-hundred day moving average of $133.07. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.85. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $144.34. The stock has a market cap of $403.57 billion, a PE ratio of 10.16, a PEG ratio of 2.04 and a beta of 1.10.

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, beating analysts’ consensus estimates 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 period in the previous year, the business posted $2.63 earnings per share. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.91%. JPMorgan Chase & Co.’s dividend payout ratio is 29.52%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JPM. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, April 17th. 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 note on Wednesday, April 5th. UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Credit Suisse Group raised their price objective on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. Finally, Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.94.

About JPMorgan Chase & Co.

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Get Rating).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.