JPMorgan Chase & Co. (NYSE:JPM) Stake Lifted by Beese Fulmer Investment Management Inc.

Posted by Defense World Staff on Jun 23rd, 2023

Beese Fulmer Investment Management Inc. boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,850 shares of the financial services provider’s stock after buying an additional 1,655 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.3% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Beese Fulmer Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $11,578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 324,769 shares of the financial services provider’s stock worth $42,321,000 after acquiring an additional 3,490 shares during the period. My Legacy Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 2.6% in the first quarter. My Legacy Advisors LLC now owns 10,737 shares of the financial services provider’s stock valued at $1,373,000 after purchasing an additional 277 shares during the period. O Keefe Stevens Advisory Inc. increased its stake in shares of JPMorgan Chase & Co. by 30.1% in the first quarter. O Keefe Stevens Advisory Inc. now owns 3,897 shares of the financial services provider’s stock valued at $508,000 after purchasing an additional 902 shares during the period. Acropolis Investment Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.5% during the first quarter. Acropolis Investment Management LLC now owns 18,786 shares of the financial services provider’s stock worth $2,448,000 after buying an additional 286 shares during the period. Finally, Wedmont Private Capital grew its holdings in JPMorgan Chase & Co. by 9.0% in the 1st quarter. Wedmont Private Capital now owns 19,127 shares of the financial services provider’s stock worth $2,446,000 after buying an additional 1,577 shares in the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JPM. Barclays decreased their price target on 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. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Keefe, Bruyette & Woods boosted their price target on shares of 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. Morgan Stanley increased their price objective on shares of JPMorgan Chase & Co. from $157.00 to $160.00 in a report on Tuesday, May 23rd. Finally, StockNews.com initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. 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 other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. 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 sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Daniel E. Pinto sold 113,640 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the sale, the chief executive officer now directly 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 three months, insiders have sold 145,861 shares of company stock valued at $19,858,275. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $139.58 on Friday. The firm has a market capitalization of $407.89 billion, a P/E ratio of 10.30, a PEG ratio of 2.00 and a beta of 1.10. The stock has a fifty day moving average of $138.71 and a 200-day moving average of $136.41. 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.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The firm had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. During the same period in the prior year, the business earned $2.63 EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. Equities analysts forecast 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 issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.87%. 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.