Prostatis Group LLC Boosts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 18th, 2023

Prostatis Group LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 262.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,972 shares of the financial services provider’s stock after purchasing an additional 5,775 shares during the quarter. Prostatis Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,069,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Moneta Group Investment Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 105,652.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $3,894,646,000. Price T Rowe Associates Inc. MD raised its holdings in JPMorgan Chase & Co. by 71.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock valued at $4,087,917,000 after acquiring an additional 12,654,947 shares in the last quarter. Morgan Stanley raised its holdings in JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after acquiring an additional 8,088,433 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $556,791,000. Hedge funds and other institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.1 %

JPM stock opened at $143.26 on Friday. The company has a fifty day moving average price of $137.63 and a 200 day moving average price of $136.26. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $144.34. The company has a market cap of $418.65 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10. 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. (NYSE:JPM – Get Rating) last released its quarterly 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. The firm had revenue of $38.35 billion during 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 quarter in the prior year, the firm earned $2.63 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 14.36 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction 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 in the company, valued at approximately $77,026,773.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Douglas B. Petno sold 4,930 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now directly owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction on 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 directly owns 566,665 shares in the company, valued at $77,026,773.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on JPM shares. Credit Suisse Group raised their target price on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, April 17th. BMO Capital Markets raised their target price on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. Finally, Barclays cut their price objective on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a report on Wednesday, April 12th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $157.65.

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.