Exchange Traded Concepts LLC Buys 643 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 25th, 2023

Exchange Traded Concepts LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,635 shares of the financial services provider’s stock after acquiring an additional 643 shares during the quarter. Exchange Traded Concepts LLC’s holdings in JPMorgan Chase & Co. were worth $6,338,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Retirement Financial Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $26,000. Creative Capital Management Investments LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $30,000. Adirondack Retirement Specialists Inc. raised its stake in shares of 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 worth $29,000 after purchasing an additional 189 shares during the last quarter. Boulder Wealth Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $43,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $44,000. 70.10% of the stock is owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 1,240 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the completion of the transaction, the insider now owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the transaction, the insider now directly owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction that occurred 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 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 sold a total of 145,861 shares of company stock valued at $19,858,275 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. StockNews.com assumed coverage on JPMorgan Chase & Co. in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Oppenheimer upped their price objective on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the company an “outperformer” rating in a research report on Monday, April 17th. Jefferies Financial Group reduced their price objective on JPMorgan Chase & Co. from $152.00 to $149.00 in a research report on Monday, May 15th. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Finally, Credit Suisse Group upped their price objective on JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.65.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $138.85 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. The business has a 50-day simple moving average of $138.71 and a two-hundred day simple moving average of $136.50. The stock has a market cap of $405.76 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.63 earnings per share. On average, analysts expect that JPMorgan Chase & Co. will post 14.35 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

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.