Gulf International Bank UK Ltd Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 25th, 2023

Gulf International Bank UK Ltd reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 383,493 shares of the financial services provider’s stock after selling 107,000 shares during the period. JPMorgan Chase & Co. makes up 1.0% of Gulf International Bank UK Ltd’s investment portfolio, making the stock its 13th largest holding. Gulf International Bank UK Ltd’s holdings in JPMorgan Chase & Co. were worth $49,972,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Twin Lakes Capital Management LLC increased its position in 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 purchasing an additional 71 shares during the last quarter. Karpas Strategies LLC increased its position in 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 purchasing an additional 71 shares during the last quarter. Oxler Private Wealth LLC increased its position in 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 purchasing an additional 71 shares during the last quarter. Sanford Advisory Services LLC increased its position in 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 purchasing an additional 73 shares during the last quarter. Finally, Gould Asset Management LLC CA increased its position in 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 purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of 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. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Evercore ISI dropped their price objective on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.65.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at approximately $39,401,207.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Douglas B. Petno sold 4,930 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the sale, the chief executive officer now directly owns 277,161 shares in the company, valued at approximately $39,401,207.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 transaction of $167,424.80. Following the completion of the sale, the insider now owns 45,056 shares in the company, valued at $6,083,461.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Down 0.5 %

NYSE JPM opened at $138.85 on Friday. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $144.34. 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 company has a market capitalization of $405.76 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The company’s fifty day moving average price is $138.71 and its two-hundred day moving average price is $136.50.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be given 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 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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