JPMorgan Chase & Co. (NYSE:JPM) is Homestead Advisers Corp’s 2nd Largest Position

Posted by on Apr 30th, 2023

Homestead Advisers Corp cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 10.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,009,836 shares of the financial services provider’s stock after selling 122,700 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.6% of Homestead Advisers Corp’s portfolio, making the stock its 2nd largest holding. Homestead Advisers Corp’s holdings in JPMorgan Chase & Co. were worth $135,244,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of JPM. Cottage Street Advisors LLC raised its position in JPMorgan Chase & Co. by 11,378.2% during the 4th quarter. Cottage Street Advisors LLC now owns 4,100,117 shares of the financial services provider’s stock worth $674,000 after buying an additional 4,064,396 shares during the last quarter. Barclays PLC raised its position in JPMorgan Chase & Co. by 77.8% during the 3rd quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock worth $843,433,000 after buying an additional 3,531,637 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 valued at $28,480,408,000 after purchasing an additional 2,918,554 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of JPMorgan Chase & Co. by 7,427.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock valued at $363,169,000 after purchasing an additional 2,628,701 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of JPMorgan Chase & Co. by 265.8% during the 3rd quarter. Federated Hermes Inc. now owns 3,391,632 shares of the financial services provider’s stock valued at $354,426,000 after purchasing an additional 2,464,462 shares in the last quarter. 67.89% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $138.24 on Friday. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $144.34. The firm has a market capitalization of $405.25 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.98 and a beta of 1.10. The company has a fifty day simple moving average of $134.33 and a 200-day simple moving average of $133.56. 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 data 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 net margin of 23.73% and a return on equity of 16.02%. The firm had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. During the same quarter in the prior year, the firm posted $2.63 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% on a year-over-year basis. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 13.85 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, March 24th. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, March 16th. They set a “hold” rating for the company. Credit Suisse Group lifted their target price on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. Evercore ISI cut their target price on shares of JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating for the company in a report on Wednesday, April 5th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $154.94.

JPMorgan Chase & Co. Company 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.

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

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