JPMorgan Chase & Co. (NYSE:JPM) Shares Acquired by Athena Investment Management

Posted by Defense World Staff on Jun 17th, 2023

Athena Investment Management boosted its position in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,247 shares of the financial services provider’s stock after purchasing an additional 244 shares during the period. JPMorgan Chase & Co. comprises 2.8% of Athena Investment Management’s investment portfolio, making the stock its 6th biggest position. Athena Investment Management’s holdings in JPMorgan Chase & Co. were worth $3,788,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its position in JPMorgan Chase & Co. by 105,652.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth $3,894,646,000. Price T Rowe Associates Inc. MD increased its position in JPMorgan Chase & Co. by 71.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after buying an additional 12,654,947 shares in the last quarter. Morgan Stanley increased its position in JPMorgan Chase & Co. by 15.9% during the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth $556,791,000. 67.89% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was 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 is available at the SEC website. In other news, Vice Chairman Peter Scher sold 2,482 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $141.39, for a total transaction of $350,929.98. Following the sale, the insider now directly owns 41,333 shares of the company’s stock, valued at $5,844,072.87. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The disclosure for this sale can be found here. Insiders have sold a total of 145,861 shares of company stock worth $19,858,275 over the last quarter. 0.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

JPM has been the subject of several recent research reports. Evercore ISI dropped their price target on JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. The Goldman Sachs Group lifted their price objective on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Royal Bank of Canada lowered their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, March 24th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $157.00 to $160.00 in a research report on Tuesday, May 23rd. Finally, Jefferies Financial Group lowered their price objective on JPMorgan Chase & Co. from $152.00 to $149.00 in a research report on Monday, May 15th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.65.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $143.26 on Friday. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34. The stock has a market capitalization of $418.65 billion, a P/E ratio of 10.57, a PEG ratio of 1.97 and a beta of 1.10. 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 business’s fifty day moving average price is $137.63 and its 200 day moving average price is $136.26.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data 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 company had revenue of $38.35 billion for the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.63 earnings per share. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 14.36 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.

JPMorgan Chase & Co. Profile

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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.