JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Matrix Asset Advisors Inc. NY

Posted by Defense World Staff on Jun 26th, 2023

Matrix Asset Advisors Inc. NY reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,018 shares of the financial services provider’s stock after selling 4,002 shares during the period. JPMorgan Chase & Co. makes up about 4.1% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 2nd biggest position. Matrix Asset Advisors Inc. NY’s holdings in JPMorgan Chase & Co. were worth $28,019,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of JPM. Mercer Global Advisors Inc. ADV boosted its stake in JPMorgan Chase & Co. by 11.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 336,522 shares of the financial services provider’s stock worth $45,128,000 after acquiring an additional 34,068 shares during the last quarter. Argus Investors Counsel Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock worth $3,256,000 after purchasing an additional 149 shares in the last quarter. Hixon Zuercher LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Hixon Zuercher LLC now owns 34,276 shares of the financial services provider’s stock valued at $4,596,000 after buying an additional 264 shares during the period. Athena Investment Management increased its position in shares of JPMorgan Chase & Co. by 0.9% in the 4th quarter. Athena Investment Management now owns 28,247 shares of the financial services provider’s stock valued at $3,788,000 after buying an additional 244 shares in the last quarter. Finally, Watershed Private Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $419,000. Institutional investors and hedge funds own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $138.85 on Monday. The company has a fifty day moving average price of $138.71 and a two-hundred day moving average price of $136.53. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $144.34. The stock has a market cap of $405.76 billion, a P/E ratio of 10.25, a P/E/G ratio of 1.93 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.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. During the same period last year, the business posted $2.63 EPS. JPMorgan Chase & Co.’s revenue was up 24.8% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 14.43 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be issued 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 is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 29.52%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $135.02, for a total value of $167,424.80. Following the transaction, the insider now directly owns 45,056 shares in the company, valued at $6,083,461.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Ashley Bacon sold 16,766 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.00, for a total transaction of $2,263,410.00. Following the completion of the sale, the insider now directly owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Scher sold 1,240 shares of the company’s stock in a transaction on Monday, May 15th. The shares were 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 directly 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 quarter, insiders have sold 145,861 shares of company stock worth $19,858,275. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent analyst reports. Evercore ISI lowered their price target on JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 18th. They set a “hold” rating on the stock. Barclays lowered their price objective on shares of 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. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Finally, Credit Suisse Group increased their target price on JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.65.

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.