JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Veery Capital LLC

Posted by Defense World Staff on Jun 27th, 2023

Veery Capital LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 37.8% during the 1st quarter, Holdings Channel reports. The fund owned 2,621 shares of the financial services provider’s stock after purchasing an additional 719 shares during the quarter. Veery Capital LLC’s holdings in JPMorgan Chase & Co. were worth $342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of JPMorgan Chase & Co. by 81.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock worth $30,321,000 after purchasing an additional 99,636 shares during the last quarter. BCK Partners Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $2,455,000. LSV Asset Management lifted its position in shares of JPMorgan Chase & Co. by 35.6% during the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after purchasing an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 70.8% during the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 1,749 shares during the last quarter. Finally, Lumature Wealth Partners LLC lifted its position in shares of JPMorgan Chase & Co. by 1,451.4% during the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 3,527 shares during the last quarter. 70.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction on Monday, May 15th. The stock was 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 owns 45,056 shares in the company, valued at $6,083,461.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,083,461.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on JPM shares. Wells Fargo & Company boosted their target price 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. Barclays decreased their target price on JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research note on Wednesday, April 12th. 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. Jefferies Financial Group reduced their price target on shares of JPMorgan Chase & Co. from $152.00 to $149.00 in a research report on Monday, May 15th. Finally, Evercore ISI reduced their price target on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.35.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $139.18 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $144.34. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50 day simple moving average of $138.70 and a 200-day simple moving average of $136.58. The stock has a market capitalization of $406.72 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10.

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 (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.69. The firm had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.63 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 14.43 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm 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 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is 29.52%.

About JPMorgan Chase & Co.

(Get Rating)

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.