Heritage Investment Group Inc. Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on May 3rd, 2023

Heritage Investment Group Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,260 shares of the financial services provider’s stock after selling 76 shares during the period. Heritage Investment Group Inc.’s holdings in JPMorgan Chase & Co. were worth $571,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cottage Street Advisors LLC raised its holdings 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 valued at $674,000 after buying an additional 4,064,396 shares during the period. Barclays PLC raised its stake in shares of JPMorgan Chase & Co. by 77.8% in the third quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock valued at $843,433,000 after acquiring an additional 3,531,637 shares during the period. Vanguard Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after acquiring an additional 2,918,554 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake 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 worth $363,169,000 after purchasing an additional 2,628,701 shares during the period. Finally, Federated Hermes Inc. grew its holdings in 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 during the last quarter. 67.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on JPM shares. Deutsche Bank Aktiengesellschaft lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and dropped their target price for the company from $155.00 to $145.00 in a research report on Friday, January 6th. StockNews.com began coverage on JPMorgan Chase & Co. in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a report on Monday, April 17th. Finally, Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $155.00.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $138.92 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The firm has a market cap of $407.24 billion, a PE ratio of 10.25, a P/E/G ratio of 1.98 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 stock has a fifty day moving average price of $134.29 and a 200-day moving average price of $134.19.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 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 company had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. During the same period last year, the business posted $2.63 earnings per share. The firm’s revenue was up 24.8% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 14 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

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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