McElhenny Sheffield Capital Management LLC Purchases 87 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 27th, 2023

McElhenny Sheffield Capital Management LLC grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the first quarter, HoldingsChannel.com reports. The fund owned 8,357 shares of the financial services provider’s stock after acquiring an additional 87 shares during the quarter. JPMorgan Chase & Co. comprises 0.6% of McElhenny Sheffield Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. McElhenny Sheffield Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,089,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Retirement Financial Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $26,000. Adirondack Retirement Specialists Inc. increased its position in JPMorgan Chase & Co. by 510.8% during the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 189 shares during the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $30,000. Boulder Wealth Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $43,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $44,000. 70.10% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $139.18 on Tuesday. The company’s 50 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 firm has a market cap of $406.72 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.92 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping 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 firm had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. During the same period in the previous year, the company posted $2.63 EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 14.43 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is 29.52%.

Insider Activity

In related news, Vice Chairman Peter Scher sold 1,240 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 45,056 shares in the company, valued at approximately $6,083,461.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction dated 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 owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,861 shares of company stock worth $19,858,275. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. The Goldman Sachs Group upped their price objective on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. 92 Resources reiterated a “maintains” rating on shares of JPMorgan Chase & Co. in a research report on Friday, May 12th. Finally, BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $157.35.

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.