Palisade Asset Management LLC Sells 328 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by on May 6th, 2023

Palisade Asset Management LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,579 shares of the financial services provider’s stock after selling 328 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.3% of Palisade Asset Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Palisade Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $11,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Vanguard Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 1.1% in the third 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 during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of JPMorgan Chase & Co. by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,084,558 shares of the financial services provider’s stock valued at $2,203,621,000 after purchasing an additional 1,058,790 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of JPMorgan Chase & Co. by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock valued at $2,536,598,000 after purchasing an additional 805,196 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.7% in the third quarter. Nuveen Asset Management LLC now owns 15,606,783 shares of the financial services provider’s stock valued at $1,630,909,000 after purchasing an additional 102,242 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of JPMorgan Chase & Co. by 28.4% in the third quarter. Boston Partners now owns 10,063,918 shares of the financial services provider’s stock valued at $1,061,182,000 after purchasing an additional 2,227,785 shares during the last quarter. 67.89% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 2.0 %

JPM opened at $136.74 on Friday. The company’s 50 day moving average is $134.05 and its 200-day moving average is $134.35. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $144.34. 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 company has a market cap of $400.85 billion, a P/E ratio of 10.09, a PEG ratio of 1.93 and a beta of 1.10.

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 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 company had revenue of $38.35 billion for the quarter, compared to the consensus estimate of $35.77 billion. During the same period last year, the company posted $2.63 EPS. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 14.11 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th were paid a $1.00 dividend. The ex-dividend date was Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.93%. JPMorgan Chase & Co.’s payout ratio is currently 29.52%.

Analyst Ratings Changes

Several equities analysts recently commented on JPM shares. Royal Bank of Canada decreased their price target 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. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. UBS Group set a $156.00 price target on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday. Finally, Citigroup upped their price target on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $155.00.

JPMorgan Chase & Co. 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.

Further Reading

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

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