JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Sanders Morris Harris LLC

Posted by on Jun 21st, 2023

Sanders Morris Harris LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 36.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,908 shares of the financial services provider’s stock after selling 7,254 shares during the period. JPMorgan Chase & Co. accounts for about 0.6% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 19th biggest holding. Sanders Morris Harris LLC’s holdings in JPMorgan Chase & Co. were worth $1,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Retirement Financial Solutions LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $26,000. Creative Capital Management Investments LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $30,000. Adirondack Retirement Specialists Inc. boosted its position in shares of JPMorgan Chase & Co. by 510.8% during the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after buying an additional 189 shares during the period. Boulder Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Finally, Capital Directions Investment Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $44,000. 70.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on JPM shares. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research report on Monday, April 17th. Odeon Capital Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. BMO Capital Markets upped their target price on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Jefferies Financial Group cut their target price on JPMorgan Chase & Co. from $152.00 to $149.00 in a research report on Monday, May 15th. Finally, Oppenheimer upped their target price on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research report on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.65.

Insider Activity

In other news, CEO Douglas B. Petno sold 4,930 shares of the business’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 in the company, valued at approximately $39,401,207.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Douglas B. Petno sold 4,930 shares of the business’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 in the company, valued at approximately $39,401,207.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders have sold a total of 145,861 shares of company stock worth $19,858,275 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $142.53 on Wednesday. The company’s fifty day moving average is $138.22 and its two-hundred day moving average is $136.35. 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. has a 12-month low of $101.28 and a 12-month high of $144.34. The company has a market cap of $416.51 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.69. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The company had revenue of $38.35 billion for the quarter, compared to the consensus estimate of $35.77 billion. During the same period in the previous year, the business earned $2.63 EPS. The company’s revenue was up 24.8% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 14.35 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.

JPMorgan Chase & Co. Company 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.

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

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