Fragasso Group Inc. Sells 150 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 26th, 2023

Fragasso Group Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,655 shares of the financial services provider’s stock after selling 150 shares during the period. Fragasso Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,910,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Twin Lakes Capital Management LLC grew its position in 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 acquiring an additional 71 shares during the last quarter. Karpas Strategies LLC grew its holdings in JPMorgan Chase & Co. by 0.3% during the 4th quarter. Karpas Strategies LLC now owns 21,608 shares of the financial services provider’s stock worth $2,898,000 after acquiring an additional 71 shares during the last quarter. Oxler Private Wealth LLC increased its holdings in 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 purchasing an additional 71 shares during the period. Sanford Advisory Services LLC raised its position in shares of 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 acquiring an additional 73 shares during the last quarter. Finally, Gould Asset Management LLC CA boosted its holdings in 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 acquiring an additional 75 shares during the last quarter. Institutional investors own 70.10% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of several analyst reports. Jefferies Financial Group lowered their price target on shares of JPMorgan Chase & Co. from $152.00 to $149.00 in a report on Monday, May 15th. Royal Bank of Canada dropped their target price on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, March 24th. Credit Suisse Group increased their price target on JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. 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, StockNews.com assumed coverage on JPMorgan Chase & Co. in a research note on Thursday, May 18th. They set a “hold” rating for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.65.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction on 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 sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,932 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $134.90, for a total transaction of $665,326.80. Following the completion of the transaction, the chief executive officer now directly owns 282,091 shares of the company’s stock, valued at $38,054,075.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,861 shares of company stock worth $19,858,275. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.5 %

JPM stock opened at $138.85 on Monday. The firm has a market capitalization of $405.76 billion, a PE ratio of 10.25, a P/E/G ratio of 1.93 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34. The stock’s 50 day moving average is $138.71 and its 200-day moving average is $136.53.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating 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 business had revenue of $38.35 billion for the quarter, compared to analysts’ expectations of $35.77 billion. During the same period last year, the business earned $2.63 EPS. The business’s revenue was up 24.8% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 14.43 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

JPMorgan Chase & Co. Company 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.