Secure Asset Management LLC Has $2.65 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 27th, 2023

Secure Asset Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 27.0% during the first quarter, HoldingsChannel reports. The fund owned 20,332 shares of the financial services provider’s stock after selling 7,524 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.9% of Secure Asset Management LLC’s holdings, making the stock its 21st biggest position. Secure Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of JPMorgan Chase & Co. by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after purchasing an additional 2,918,554 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in JPMorgan Chase & Co. by 105,652.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares during the last quarter. Morgan Stanley raised its position in JPMorgan Chase & Co. by 15.9% during the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after acquiring an additional 8,088,433 shares in the last quarter. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock valued at $6,859,512,000 after acquiring an additional 1,082,325 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in JPMorgan Chase & Co. by 71.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after acquiring an additional 12,654,947 shares in the last quarter. 70.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Vice Chairman Peter Scher sold 1,240 shares of JPMorgan Chase & Co. stock in a transaction dated 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 approximately $6,083,461.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $77,026,773.45. 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. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several analyst reports. Citigroup reduced their price objective on shares of JPMorgan Chase & Co. from $165.00 to $160.00 in a research note on Monday. BMO Capital Markets boosted their price target on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $157.00 to $160.00 in a report on Tuesday, May 23rd. Finally, StockNews.com assumed coverage on JPMorgan Chase & Co. in a report on Thursday, May 18th. They set a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.35.

JPMorgan Chase & Co. Stock Up 0.2 %

Shares of JPM stock opened at $139.18 on Tuesday. JPMorgan Chase & Co. has a one year low of $101.28 and a one year 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 stock has a fifty day moving average price of $138.70 and a 200 day moving average price of $136.58. The stock 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. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates 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 company 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 firm earned $2.63 EPS. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 14.43 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed 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. This represents a $4.00 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date 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.