Alpha Family Trust Acquires New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on May 15th, 2023

Alpha Family Trust bought a new stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,010 shares of the financial services provider’s stock, valued at approximately $806,000. JPMorgan Chase & Co. makes up about 0.7% of Alpha Family Trust’s investment portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of JPM. Vanguard Group Inc. increased its stake in JPMorgan Chase & Co. by 1.1% in the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after acquiring an additional 2,918,554 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in JPMorgan Chase & Co. by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,084,558 shares of the financial services provider’s stock worth $2,203,621,000 after purchasing an additional 1,058,790 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in JPMorgan Chase & Co. by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock worth $2,536,598,000 after purchasing an additional 805,196 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in JPMorgan Chase & Co. by 0.7% in the third quarter. Nuveen Asset Management LLC now owns 15,606,783 shares of the financial services provider’s stock worth $1,630,909,000 after purchasing an additional 102,242 shares during the last quarter. Finally, Boston Partners lifted its stake in JPMorgan Chase & Co. by 28.4% in the third quarter. Boston Partners now owns 10,063,918 shares of the financial services provider’s stock worth $1,061,182,000 after purchasing an additional 2,227,785 shares during the last quarter. 67.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Evercore ISI decreased their price target on JPMorgan Chase & Co. from $155.00 to $151.00 in a research note on Friday. The Goldman Sachs Group lifted their price target on JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Bank of America raised their price target on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Credit Suisse Group raised their price target on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. Finally, Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $155.28.

JPMorgan Chase & Co. Trading Down 1.4 %

NYSE JPM opened at $134.10 on Monday. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $144.34. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock’s fifty day moving average price is $133.39 and its 200-day moving average price is $135.09. The stock has a market cap 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.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data 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. The company had revenue of $38.35 billion for the quarter, compared to the consensus estimate of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. JPMorgan Chase & Co.’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 EPS. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 14.33 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 2.98%. JPMorgan Chase & Co.’s payout ratio is 29.52%.

Insider Activity

In related news, CEO Daniel E. Pinto sold 113,640 shares of the 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 transaction, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.79% of the company’s stock.

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.