Naviter Wealth LLC Has $1.82 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 25th, 2023

Naviter Wealth LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,985 shares of the financial services provider’s stock after selling 1,944 shares during the period. Naviter Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $1,822,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Twin Lakes Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.5% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,786 shares of the financial services provider’s stock valued at $1,849,000 after buying an additional 71 shares during the last quarter. Karpas Strategies LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.3% in the fourth quarter. Karpas Strategies LLC now owns 21,608 shares of the financial services provider’s stock valued at $2,898,000 after buying an additional 71 shares during the last quarter. Oxler Private Wealth LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% in the fourth quarter. Oxler Private Wealth LLC now owns 8,158 shares of the financial services provider’s stock valued at $1,094,000 after buying an additional 71 shares during the last quarter. Sanford Advisory Services LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.4% in the fourth quarter. Sanford Advisory Services LLC now owns 3,176 shares of the financial services provider’s stock valued at $426,000 after buying an additional 73 shares during the last quarter. Finally, Gould Asset Management LLC CA raised its holdings in shares of JPMorgan Chase & Co. by 1.2% in the fourth quarter. Gould Asset Management LLC CA now owns 6,580 shares of the financial services provider’s stock valued at $882,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $138.85 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day simple moving average of $138.71 and a 200 day simple moving average of $136.50. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $144.34. 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.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, beating the consensus estimate 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%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.63 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 14.35 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business 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 dividend of $1.00 per share. 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 is currently 29.52%.

Analysts Set New Price Targets

A number of analysts recently commented on JPM shares. Jefferies Financial Group lowered their price objective on JPMorgan Chase & Co. from $152.00 to $149.00 in a research report on Monday, May 15th. Royal Bank of Canada lowered their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, March 24th. Barclays lowered their price objective on JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, April 12th. The Goldman Sachs Group lifted their price objective on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Finally, Bank of America lifted their price objective on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.65.

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 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 sale, the insider now owns 45,056 shares in the company, valued at approximately $6,083,461.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Vice Chairman Peter Scher sold 1,240 shares of the company’s 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 sale, the insider now owns 45,056 shares in the company, valued at approximately $6,083,461.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jennifer Piepszak sold 1,871 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $140.70, for a total value of $263,249.70. Following the sale, the chief executive officer now owns 22,926 shares in the company, valued at approximately $3,225,688.20. The disclosure for this sale can be found here. Insiders have sold a total of 145,861 shares of company stock worth $19,858,275 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

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.