JPMorgan Chase & Co. (NYSE:JPM) is Cohen Lawrence B’s 3rd Largest Position

Posted by Defense World Staff on May 15th, 2023

Cohen Lawrence B grew its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 39.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,053 shares of the financial services provider’s stock after purchasing an additional 12,414 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.1% of Cohen Lawrence B’s holdings, making the stock its 3rd biggest holding. Cohen Lawrence B’s holdings in JPMorgan Chase & Co. were worth $5,908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Financial Solutions LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $26,000. Creative Capital Management Investments LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $30,000. Capital Directions Investment Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $44,000. Bellwether Advisors LLC lifted its stake in JPMorgan Chase & Co. by 119.1% during the third quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 268 shares during the last quarter. Finally, Delos Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 24.4% during the third quarter. Delos Wealth Advisors LLC now owns 505 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.

Insider Buying and Selling

In related news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Down 1.4 %

Shares of JPMorgan Chase & Co. stock opened at $134.10 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.85. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $144.34. The company has a market capitalization of $391.88 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.91 and a beta of 1.10. The business has a 50 day moving average price of $133.39 and a 200 day moving average price of $135.09.

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 (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 for the quarter, compared to analyst estimates of $35.77 billion. During the same quarter last year, the business earned $2.63 earnings per share. JPMorgan Chase & Co.’s revenue was up 24.8% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 14.33 EPS for the current fiscal 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 given 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 (DPR) is presently 29.52%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on JPM shares. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Barclays reduced their price target 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. Royal Bank of Canada cut their price target on 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. BMO Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. Finally, Citigroup increased their price objective on JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $155.28.

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.