Cohen Lawrence B Increases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on May 15th, 2023

Cohen Lawrence B lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 39.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,053 shares of the financial services provider’s stock after acquiring an additional 12,414 shares during the quarter. JPMorgan Chase & Co. makes up about 3.1% of Cohen Lawrence B’s investment portfolio, making the stock its 3rd largest position. Cohen Lawrence B’s holdings in JPMorgan Chase & Co. were worth $5,908,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in JPMorgan Chase & Co. by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after purchasing an additional 2,918,554 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 during the last quarter. Nuveen Asset Management LLC grew its position in shares of 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 worth $1,630,909,000 after buying an additional 102,242 shares during the period. Finally, Boston Partners grew its position in shares of 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 worth $1,061,182,000 after buying an additional 2,227,785 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research analyst reports. Oppenheimer raised their price target on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research report on Monday, April 17th. Citigroup raised their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Finally, StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Six equities 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $155.28.

Insider Buying and Selling

In related news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $134.10 on Monday. The company’s fifty day moving average is $133.39 and its 200 day moving average is $135.09. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market cap of $391.88 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 1.91 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.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share 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 business had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. During the same quarter last year, the firm earned $2.63 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 14.33 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Investors of record on Thursday, April 6th were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 2.98%. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.