Connolly Sarah T. Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on May 15th, 2023

Connolly Sarah T. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,162 shares of the financial services provider’s stock after purchasing an additional 82 shares during the period. JPMorgan Chase & Co. makes up 2.4% of Connolly Sarah T.’s portfolio, making the stock its 9th biggest position. Connolly Sarah T.’s holdings in JPMorgan Chase & Co. were worth $3,508,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P raised its holdings in shares of JPMorgan Chase & Co. by 81.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock worth $30,321,000 after acquiring an additional 99,636 shares during the period. BCK Partners Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $2,455,000. LSV Asset Management grew its holdings in shares of JPMorgan Chase & Co. by 35.6% during the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after buying an additional 9,800 shares in the last quarter. Wsfs Capital Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 70.8% during the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock worth $575,000 after buying an additional 1,749 shares in the last quarter. Finally, Lumature Wealth Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 1,451.4% during the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after buying an additional 3,527 shares in the last quarter. Institutional investors own 67.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on JPM shares. Royal Bank of Canada reduced their target price on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, March 24th. Bank of America boosted their target price 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 JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Finally, Barclays cut their price objective 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. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $155.28.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $134.10 on Monday. The company has a market capitalization of $391.88 billion, a price-to-earnings ratio of 9.90, a PEG 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. The stock has a fifty day simple moving average of $133.39 and a 200 day simple moving average of $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.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its earnings results 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. 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 for the quarter, compared to analysts’ expectations of $35.77 billion. During the same period in the prior year, the business posted $2.63 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 14.33 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is presently 29.52%.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 0.79% of the stock is currently owned by company insiders.

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.