Gateway Investment Advisers LLC Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 23rd, 2023

Gateway Investment Advisers LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 10.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 840,215 shares of the financial services provider’s stock after selling 99,330 shares during the period. JPMorgan Chase & Co. accounts for about 1.3% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 12th largest holding. Gateway Investment Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $109,488,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Cantor Fitzgerald Investment Advisor L.P increased its stake in JPMorgan Chase & Co. by 81.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after purchasing an additional 99,636 shares in the last quarter. BCK Partners Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $2,455,000. LSV Asset Management increased its stake in JPMorgan Chase & Co. by 35.6% during the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after purchasing an additional 9,800 shares in the last quarter. Wsfs Capital Management LLC increased its stake in JPMorgan Chase & Co. by 70.8% during the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 1,749 shares in the last quarter. Finally, Lumature Wealth Partners LLC increased its stake in JPMorgan Chase & Co. by 1,451.4% during the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 3,527 shares in the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, 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 value of $15,447,085.20. Following the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 value of $15,447,085.20. Following the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas B. Petno sold 4,932 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $134.90, for a total transaction of $665,326.80. Following the completion of the transaction, the chief executive officer now directly owns 282,091 shares in the company, valued at approximately $38,054,075.90. The disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock valued at $19,858,275 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $139.58 on Friday. 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. has a 1-year low of $101.28 and a 1-year high of $144.34. The company has a market capitalization of $407.89 billion, a P/E ratio of 10.30, a P/E/G ratio of 2.00 and a beta of 1.10. The firm’s 50 day simple moving average is $138.71 and its two-hundred day simple moving average is $136.41.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders 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 yield of 2.87%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on JPM shares. Bank of America raised 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. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. 92 Resources reiterated a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Friday, May 12th. Jefferies Financial Group reduced their price target on shares of JPMorgan Chase & Co. from $152.00 to $149.00 in a research note on Monday, May 15th. Finally, The Goldman Sachs Group lifted their price target on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Six 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, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average 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.