Reuter James Wealth Management LLC Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on May 3rd, 2023

Reuter James Wealth Management LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,348 shares of the financial services provider’s stock after buying an additional 1,422 shares during the period. JPMorgan Chase & Co. accounts for 0.8% of Reuter James Wealth Management LLC’s holdings, making the stock its 28th biggest position. Reuter James Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P boosted its position in JPMorgan Chase & Co. by 81.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after buying an additional 99,636 shares during the last quarter. BCK Partners Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $2,455,000. LSV Asset Management raised its holdings in shares of JPMorgan Chase & Co. by 35.6% during the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after purchasing an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC lifted its position in JPMorgan Chase & Co. by 70.8% during the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC boosted its holdings in JPMorgan Chase & Co. by 1,451.4% in the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 3,527 shares during the last quarter. 67.89% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 1.6 %

Shares of JPM opened at $138.92 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34. The firm has a market capitalization of $407.24 billion, a P/E ratio of 10.25, a P/E/G ratio of 1.98 and a beta of 1.10. The firm has a 50-day moving average price of $134.29 and a 200 day moving average price of $134.19. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted 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. The business had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.63 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 14 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th were given a $1.00 dividend. The ex-dividend date was Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.88%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. StockNews.com began coverage on JPMorgan Chase & Co. in a report on Thursday, March 16th. They issued a “hold” rating for the company. Oppenheimer upped their price objective on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research report on Monday, April 17th. Credit Suisse Group increased their price target on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Finally, 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 note on Friday, March 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $155.00.

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.

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

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