German American Bancorp Inc. Buys 706 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Jun 15th, 2023

German American Bancorp Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,643 shares of the financial services provider’s stock after purchasing an additional 706 shares during the period. JPMorgan Chase & Co. makes up 1.6% of German American Bancorp Inc.’s investment portfolio, making the stock its 13th largest holding. German American Bancorp Inc.’s holdings in JPMorgan Chase & Co. were worth $10,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Gateway Wealth Partners LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $801,000. Applied Finance Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $14,899,000. Greenwood Gearhart Inc. lifted its position in JPMorgan Chase & Co. by 4.3% during the 4th quarter. Greenwood Gearhart Inc. now owns 86,344 shares of the financial services provider’s stock valued at $11,578,000 after acquiring an additional 3,593 shares during the period. RiverFront Investment Group LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $247,000. Finally, Public Employees Retirement System of Ohio lifted its position in JPMorgan Chase & Co. by 17.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,045,195 shares of the financial services provider’s stock valued at $274,261,000 after acquiring an additional 302,881 shares during the period. Institutional investors own 67.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JPM shares. The Goldman Sachs Group lifted their price target on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Jefferies Financial Group decreased their target price on shares of JPMorgan Chase & Co. from $152.00 to $149.00 in a report on Monday, May 15th. Wells Fargo & Company lifted their target price 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. Evercore ISI decreased their target price on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. Finally, Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday, April 17th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.65.

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 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 sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’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 sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Peter Scher sold 1,240 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the transaction, the insider now owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,449 shares of company stock worth $18,806,497. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $141.49 on Thursday. The company has a 50 day moving average price of $137.01 and a 200-day moving average price of $136.15. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. The firm has a market capitalization of $413.47 billion, a PE ratio of 10.44, a P/E/G ratio of 1.97 and a beta of 1.10. 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 quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The firm had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.63 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 14.3 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a yield of 2.83%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.52%.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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