Modera Wealth Management LLC Purchases 1,614 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on May 9th, 2023

Modera Wealth Management LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,494 shares of the financial services provider’s stock after acquiring an additional 1,614 shares during the period. Modera Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. J. W. Coons Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 11.1% in the 4th quarter. J. W. Coons Advisors LLC now owns 28,406 shares of the financial services provider’s stock valued at $3,809,000 after buying an additional 2,840 shares during the period. Integris Wealth Management LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $290,000. Edgemoor Investment Advisors Inc. grew its position in JPMorgan Chase & Co. by 32.7% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 7,033 shares of the financial services provider’s stock valued at $943,000 after purchasing an additional 1,733 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in shares of JPMorgan Chase & Co. by 7.2% in the fourth quarter. Thoroughbred Financial Services LLC now owns 62,672 shares of the financial services provider’s stock valued at $8,404,000 after acquiring an additional 4,222 shares during the last quarter. Finally, CPA Asset Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $1,096,000. 67.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley upped their price objective on JPMorgan Chase & Co. from $153.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Oppenheimer raised their price objective on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research note on Monday, April 17th. UBS Group set a $156.00 target price on JPMorgan Chase & Co. in a report on Friday, January 13th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Finally, Royal Bank of Canada cut their target price on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, March 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.00.

JPMorgan Chase & Co. Stock Up 0.2 %

JPMorgan Chase & Co. stock opened at $137.07 on Tuesday. The firm has a market capitalization of $400.56 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. The firm’s fifty day moving average price is $133.95 and its two-hundred day moving average price is $134.73. 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.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $35.77 billion. During the same period in the prior year, the firm posted $2.63 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts predict that JPMorgan Chase & Co. will post 14.33 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, April 30th. Investors of record on Thursday, April 6th were given a dividend of $1.00 per share. 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%.

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.