Benjamin Edwards Inc. Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on May 9th, 2023

Benjamin Edwards Inc. raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,041 shares of the financial services provider’s stock after buying an additional 2,258 shares during the period. Benjamin Edwards Inc.’s holdings in JPMorgan Chase & Co. were worth $2,419,000 at the end of the most recent reporting period.

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

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $137.07 on Tuesday. The company has a 50 day moving average price of $133.95 and a 200-day moving average price of $134.73. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. The firm has a market capitalization of $400.56 billion, a PE ratio of 10.12, a P/E/G ratio of 1.91 and a beta of 1.10. 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 results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping 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 firm had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. During the same period in the previous year, the business posted $2.63 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 14.33 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 30th. Investors of record on Thursday, April 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is 29.52%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research analyst reports. Barclays dropped their target price on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, April 12th. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Evercore ISI decreased their price target on shares of JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, April 5th. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. Finally, Oppenheimer increased their price target on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research note on Monday, April 17th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently 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.

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

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