JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Parsec Financial Management Inc.

Posted by Defense World Staff on Jun 21st, 2023

Parsec Financial Management Inc. trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,975 shares of the financial services provider’s stock after selling 8,399 shares during the quarter. JPMorgan Chase & Co. makes up about 1.4% of Parsec Financial Management Inc.’s holdings, making the stock its 17th biggest position. Parsec Financial Management Inc.’s holdings in JPMorgan Chase & Co. were worth $32,444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Retirement Financial Solutions LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $26,000. Creative Capital Management Investments LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $30,000. Boulder Wealth Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $43,000. Capital Directions Investment Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. Finally, Bellwether Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 119.1% during the 3rd quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Oppenheimer upped their price objective on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a report on Monday, April 17th. Odeon Capital Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $157.00 to $160.00 in a report on Tuesday, May 23rd. 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. Finally, Credit Suisse Group upped their price target on JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $157.65.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $142.53 on Wednesday. The company has a market cap of $416.51 billion, a P/E ratio of 10.52, a P/E/G ratio of 2.00 and a beta of 1.10. The business has a fifty day simple moving average of $138.22 and a 200-day simple moving average of $136.35. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. 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 posted its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.69. The company 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%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.63 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 14.35 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the transaction, the insider now directly owns 45,056 shares in the company, valued at approximately $6,083,461.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $135.02, for a total value of $167,424.80. Following the completion of the sale, the insider now owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas B. Petno sold 4,930 shares of JPMorgan Chase & Co. 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 owns 277,161 shares in the company, valued at approximately $39,401,207.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,861 shares of company stock valued at $19,858,275. Company insiders own 0.79% of the company’s stock.

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.