Chesley Taft & Associates LLC Has $27.03 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 23rd, 2023

Chesley Taft & Associates LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 207,456 shares of the financial services provider’s stock after selling 1,081 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.8% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 10th largest position. Chesley Taft & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $27,034,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Moneta Group Investment Advisors LLC raised its holdings in JPMorgan Chase & Co. by 105,652.2% during the 4th 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 purchasing an additional 97,907,897 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $3,894,646,000. Price T Rowe Associates Inc. MD raised its holdings in JPMorgan Chase & Co. by 71.0% during the 4th 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 purchasing an additional 12,654,947 shares during the last quarter. Morgan Stanley raised its holdings in JPMorgan Chase & Co. by 15.9% during the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $556,791,000. Institutional investors own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $139.58 on Friday. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $144.34. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $407.89 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.00 and a beta of 1.10. The company has a fifty day moving average price of $138.71 and a 200-day moving average price of $136.41.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.63 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 14.35 EPS 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. Investors 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 annualized dividend and a yield of 2.87%. JPMorgan Chase & Co.’s payout ratio is currently 29.52%.

Analysts Set New Price Targets

Several analysts have recently weighed in on JPM shares. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $157.00 to $160.00 in a research note on Tuesday, May 23rd. Evercore ISI lowered their price objective on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a research note on Friday, May 12th. BMO Capital Markets lifted their price objective on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. Barclays lowered their price objective on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research note on Wednesday, April 12th. Finally, Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, April 17th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $157.65.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Douglas B. Petno sold 4,930 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the completion of the transaction, the chief executive officer now owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction dated 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 $77,026,773.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Douglas B. Petno sold 4,930 shares of the stock in a transaction dated Thursday, June 15th. The stock was 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 of the company’s stock, 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 worth $19,858,275. 0.79% of the stock is owned by company insiders.

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.