AMI Investment Management Inc. Sells 3,244 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by on May 6th, 2023

AMI Investment Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,011 shares of the financial services provider’s stock after selling 3,244 shares during the quarter. JPMorgan Chase & Co. comprises 3.2% of AMI Investment Management Inc.’s holdings, making the stock its 8th largest holding. AMI Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake 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 worth $28,480,408,000 after acquiring an additional 2,918,554 shares during the period. Dimensional Fund Advisors LP lifted its stake in 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 buying an additional 1,058,790 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in 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 buying an additional 805,196 shares during the period. Nuveen Asset Management LLC lifted its stake in 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 buying an additional 102,242 shares during the period. Finally, Boston Partners lifted its stake in 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 buying an additional 2,227,785 shares during the period. 67.89% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 2.0 %

Shares of JPMorgan Chase & Co. stock opened at $136.74 on Friday. The stock has a fifty day simple moving average of $134.05 and a 200 day simple moving average of $134.35. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34. The company has a market capitalization of $400.85 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 1.93 and a beta of 1.10. 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 announced its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $35.77 billion. During the same quarter in the prior year, the company posted $2.63 earnings per share. JPMorgan Chase & Co.’s revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 14.11 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed 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 of this dividend was Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 2.93%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.

Analyst Ratings Changes

Several equities analysts have issued reports on JPM shares. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. UBS Group set a $156.00 price target on JPMorgan Chase & Co. in a research note on Friday, January 13th. Citigroup boosted their price target on JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. BMO Capital Markets boosted their price objective on JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday. Finally, Royal Bank of Canada decreased their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, March 24th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.

See Also

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

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