HB Wealth Management LLC Has $16.90 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 27th, 2023

HB Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the first quarter, Holdings Channel reports. The firm owned 129,704 shares of the financial services provider’s stock after buying an additional 3,971 shares during the period. HB Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $16,902,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Spinnaker Trust increased its position in shares of JPMorgan Chase & Co. by 1.2% during the 1st quarter. Spinnaker Trust now owns 73,513 shares of the financial services provider’s stock worth $9,579,000 after purchasing an additional 894 shares in the last quarter. Drive Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.7% during the first quarter. Drive Wealth Management LLC now owns 13,178 shares of the financial services provider’s stock worth $1,717,000 after buying an additional 97 shares in the last quarter. McElhenny Sheffield Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 1.1% in the first quarter. McElhenny Sheffield Capital Management LLC now owns 8,357 shares of the financial services provider’s stock valued at $1,089,000 after acquiring an additional 87 shares during the last quarter. Luts & Greenleigh Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 16.6% in the 1st quarter. Luts & Greenleigh Group Inc. now owns 3,892 shares of the financial services provider’s stock worth $507,000 after acquiring an additional 553 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in JPMorgan Chase & Co. by 10.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,007,141 shares of the financial services provider’s stock worth $131,241,000 after acquiring an additional 98,293 shares during the last quarter. 70.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the sale, the chief executive officer now owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Peter Scher sold 2,482 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $141.39, for a total transaction of $350,929.98. Following the completion of the transaction, the insider now directly owns 41,333 shares in the company, valued at approximately $5,844,072.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,861 shares of company stock valued at $19,858,275. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on JPM shares. Credit Suisse Group boosted their price objective on JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. Evercore ISI decreased their price objective on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. 92 Resources reissued a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Friday, May 12th. Finally, Citigroup dropped their price objective on shares of JPMorgan Chase & Co. from $165.00 to $160.00 in a research report on Monday. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $157.35.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $139.18 on Tuesday. The business’s fifty day moving average is $138.70 and its 200-day moving average is $136.58. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $406.72 billion, a P/E ratio of 10.27, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34.

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 for the quarter, beating analysts’ consensus estimates of $3.41 by $0.69. The company had revenue of $38.35 billion for the quarter, compared to the consensus estimate of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.63 EPS. Equities research analysts forecast 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. Shareholders of record on Thursday, July 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a yield of 2.87%. JPMorgan Chase & Co.’s dividend payout ratio is presently 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.