Stokes Capital Advisors LLC Boosts Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 25th, 2023

Stokes Capital Advisors LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,458 shares of the financial services provider’s stock after purchasing an additional 236 shares during the quarter. JPMorgan Chase & Co. makes up 2.0% of Stokes Capital Advisors LLC’s portfolio, making the stock its 20th biggest holding. Stokes Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $5,924,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its position in shares of JPMorgan Chase & Co. by 11.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 336,522 shares of the financial services provider’s stock valued at $45,128,000 after acquiring an additional 34,068 shares in the last quarter. Argus Investors Counsel Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock valued at $3,256,000 after acquiring an additional 149 shares in the last quarter. Hixon Zuercher LLC lifted its position in shares of JPMorgan Chase & Co. by 0.8% in the fourth quarter. Hixon Zuercher LLC now owns 34,276 shares of the financial services provider’s stock valued at $4,596,000 after acquiring an additional 264 shares in the last quarter. Athena Investment Management lifted its position in shares of JPMorgan Chase & Co. by 0.9% in the fourth quarter. Athena Investment Management now owns 28,247 shares of the financial services provider’s stock valued at $3,788,000 after acquiring an additional 244 shares in the last quarter. Finally, Watershed Private Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $419,000. 70.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JPM. Morgan Stanley upped their price objective on JPMorgan Chase & Co. from $157.00 to $160.00 in a research report on Tuesday, May 23rd. Credit Suisse Group increased their target price on JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. Keefe, Bruyette & Woods increased their target price on 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. Finally, StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Six investment 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 a consensus rating of “Moderate Buy” and an average price target of $157.65.

Insider Activity

In other news, Vice Chairman Peter Scher sold 2,482 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now owns 41,333 shares in the company, valued at $5,844,072.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Vice Chairman Peter Scher sold 2,482 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now owns 41,333 shares in the company, valued at $5,844,072.87. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jennifer Piepszak sold 1,871 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $140.70, for a total value of $263,249.70. Following the completion of the sale, the chief executive officer now owns 22,926 shares of the company’s stock, valued at approximately $3,225,688.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $138.85 on Friday. The firm has a market capitalization of $405.76 billion, a PE ratio of 10.25, 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 current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $138.71 and a two-hundred day moving average of $136.50. 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 results on Friday, April 14th. The financial services provider reported $4.10 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 company had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. During the same period in the prior year, the firm posted $2.63 earnings per share. The firm’s revenue was up 24.8% on a year-over-year basis. As a group, research analysts forecast that JPMorgan Chase & Co. will post 14.35 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced 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. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.88%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.52%.

JPMorgan Chase & Co. Profile

(Get Rating)

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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