Edge Capital Group LLC Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on May 8th, 2023

Edge Capital Group LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 13.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,262 shares of the financial services provider’s stock after selling 13,316 shares during the quarter. Edge Capital Group LLC’s holdings in JPMorgan Chase & Co. were worth $11,568,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of 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 worth $28,480,408,000 after buying an additional 2,918,554 shares during the period. Dimensional Fund Advisors LP boosted its position in JPMorgan Chase & Co. by 5.3% during the 3rd 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 acquiring an additional 1,058,790 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in JPMorgan Chase & Co. by 4.5% during the 1st 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 acquiring an additional 805,196 shares in the last quarter. Nuveen Asset Management LLC boosted its position in JPMorgan Chase & Co. by 0.7% during the 3rd 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 acquiring an additional 102,242 shares in the last quarter. Finally, Boston Partners boosted its position in JPMorgan Chase & Co. by 28.4% during the 3rd quarter. Boston Partners now owns 10,063,918 shares of the financial services provider’s stock valued at $1,061,182,000 after acquiring an additional 2,227,785 shares in the last quarter. 67.89% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $136.74 on Monday. The business has a 50-day moving average price of $134.05 and a 200-day moving average price of $134.58. The firm has a market cap of $399.59 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 1.87 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34. 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. The business had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The company’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the firm posted $2.63 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 14.33 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JPM. 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 for the company in a report on Friday, March 24th. Odeon Capital Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Keefe, Bruyette & Woods boosted their price objective 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. The Goldman Sachs Group boosted their price objective on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday, April 14th. Finally, Citigroup boosted their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.00.

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.