Journey Advisory Group LLC Purchases 12,687 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by on May 9th, 2023

Journey Advisory Group LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 25.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,687 shares of the financial services provider’s stock after buying an additional 12,687 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.1% of Journey Advisory Group LLC’s holdings, making the stock its 8th biggest holding. Journey Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $8,406,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 11.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 153,622 shares of the financial services provider’s stock valued at $16,054,000 after purchasing an additional 15,607 shares in the last quarter. Leisure Capital Management raised its stake in JPMorgan Chase & Co. by 2.7% during the third quarter. Leisure Capital Management now owns 22,736 shares of the financial services provider’s stock worth $2,376,000 after acquiring an additional 600 shares during the period. Ballentine Partners LLC raised its stake in JPMorgan Chase & Co. by 12.4% during the third quarter. Ballentine Partners LLC now owns 51,929 shares of the financial services provider’s stock worth $5,427,000 after acquiring an additional 5,719 shares during the period. Argus Investors Counsel Inc. raised its stake in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock worth $3,256,000 after acquiring an additional 149 shares during the period. Finally, Hixon Zuercher LLC raised its stake in JPMorgan Chase & Co. by 0.8% during the fourth quarter. Hixon Zuercher LLC now owns 34,276 shares of the financial services provider’s stock worth $4,596,000 after acquiring an additional 264 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.2 %

Shares of NYSE:JPM opened at $137.07 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $400.56 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. The firm has a 50 day simple moving average of $133.95 and a 200 day simple moving average of $134.73.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, beating the consensus estimate 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 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 firm earned $2.63 EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 14.33 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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 $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 2.92%. JPMorgan Chase & Co.’s payout ratio is 29.52%.

Analysts Set New Price Targets

JPM has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $153.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research report on Monday, April 17th. The Goldman Sachs Group increased their price objective on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday, April 14th. UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, January 13th. Finally, Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, April 17th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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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