Smith Anglin Financial LLC Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Jun 24th, 2023

Smith Anglin Financial LLC increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 6.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,177 shares of the financial services provider’s stock after acquiring an additional 130 shares during the period. Smith Anglin Financial LLC’s holdings in JPMorgan Chase & Co. were worth $284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Twin Lakes Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 0.5% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,786 shares of the financial services provider’s stock worth $1,849,000 after acquiring an additional 71 shares during the last quarter. Karpas Strategies LLC grew its stake in shares of JPMorgan Chase & Co. by 0.3% during the fourth quarter. Karpas Strategies LLC now owns 21,608 shares of the financial services provider’s stock worth $2,898,000 after acquiring an additional 71 shares during the last quarter. Oxler Private Wealth LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.9% during the fourth quarter. Oxler Private Wealth LLC now owns 8,158 shares of the financial services provider’s stock worth $1,094,000 after buying an additional 71 shares during the period. Sanford Advisory Services LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.4% during the fourth quarter. Sanford Advisory Services LLC now owns 3,176 shares of the financial services provider’s stock worth $426,000 after buying an additional 73 shares during the period. Finally, Gould Asset Management LLC CA lifted its stake in shares of JPMorgan Chase & Co. by 1.2% during the fourth quarter. Gould Asset Management LLC CA now owns 6,580 shares of the financial services provider’s stock worth $882,000 after buying an additional 75 shares during the period. 70.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $15,447,085.20. Following the completion of the sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value 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 $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 valued at $19,858,275 in the last 90 days. 0.79% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JPM shares. 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 raised their price objective on JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. 92 Resources restated a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Friday, May 12th. Finally, Barclays cut their price objective on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 12th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.65.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $138.80 on Friday. The company’s fifty day moving average price is $138.71 and its 200 day moving average price is $136.46. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $144.34. The stock has a market capitalization of $405.61 billion, a P/E ratio of 10.24, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.85.

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 analysts’ consensus estimates of $3.41 by $0.69. The firm had revenue of $38.35 billion for 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%. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the company posted $2.63 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 14.35 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be issued a $1.00 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.88%. JPMorgan Chase & Co.’s payout ratio is currently 29.52%.

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.

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

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