JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Brave Asset Management Inc.

Posted by Defense World Staff on Jun 24th, 2023

Brave Asset Management Inc. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 5.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,646 shares of the financial services provider’s stock after purchasing an additional 2,637 shares during the quarter. JPMorgan Chase & Co. makes up about 2.2% of Brave Asset Management Inc.’s investment portfolio, making the stock its 12th largest holding. Brave Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,860,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in JPM. Retirement Financial Solutions LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $26,000. Creative Capital Management Investments LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $30,000. Adirondack Retirement Specialists Inc. lifted its stake in JPMorgan Chase & Co. by 510.8% in the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after buying an additional 189 shares during the last quarter. Boulder Wealth Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Finally, Capital Directions Investment Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 70.10% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.6 %

Shares of JPM opened at $138.80 on Friday. The business’s 50-day moving average price is $138.71 and its 200 day moving average price is $136.46. 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. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $144.34. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

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, topping analysts’ consensus estimates of $3.41 by $0.69. The firm had revenue of $38.35 billion for the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. JPMorgan Chase & Co.’s revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $2.63 EPS. Analysts expect that JPMorgan Chase & Co. will post 14.35 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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 paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.88%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.

Insider Buying and Selling

In related news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction dated 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 transaction, 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 the SEC website. In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. 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 transaction, the chief executive officer now 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 SEC, which is available at this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of JPMorgan Chase & Co. stock in a transaction dated 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 in the company, valued at approximately $6,083,461.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,861 shares of company stock valued at $19,858,275. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on JPM shares. Barclays cut their target price on 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. Wells Fargo & Company lifted 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. Jefferies Financial Group cut their price objective on shares of JPMorgan Chase & Co. from $152.00 to $149.00 in a research note on Monday, May 15th. 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. 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.