JPMorgan Chase & Co. (NYSE:JPM) is Chartwell Investment Partners LLC’s 6th Largest Position

Posted by Defense World Staff on Jun 28th, 2023

Chartwell Investment Partners LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 18.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 208,606 shares of the financial services provider’s stock after selling 46,394 shares during the period. JPMorgan Chase & Co. comprises 1.0% of Chartwell Investment Partners LLC’s holdings, making the stock its 6th biggest position. Chartwell Investment Partners LLC’s holdings in JPMorgan Chase & Co. were worth $27,184,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of JPM. Cantor Fitzgerald Investment Advisor L.P raised its stake 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 acquiring an additional 99,636 shares in the last quarter. BCK Partners Inc. purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth $2,455,000. LSV Asset Management raised its holdings in shares of JPMorgan Chase & Co. by 35.6% in the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after buying an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 70.8% in the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock worth $575,000 after buying an additional 1,749 shares during the last quarter. Finally, Lumature Wealth Partners LLC raised its holdings in shares of JPMorgan Chase & Co. by 1,451.4% in the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after buying an additional 3,527 shares during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.0 %

Shares of NYSE JPM opened at $139.23 on Wednesday. The company’s 50-day simple moving average is $138.66 and its 200-day simple moving average is $136.63. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $144.34. The firm has a market cap of $406.87 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced 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 for the quarter, compared to analyst estimates of $35.77 billion. During the same quarter last year, the business earned $2.63 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 14.43 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the transaction, the insider now owns 45,056 shares in the company, valued at $6,083,461.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research analyst reports. 92 Resources reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Friday, May 12th. Royal Bank of Canada reduced their target price on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, March 24th. Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Finally, Barclays reduced their target price on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a report on Wednesday, April 12th. Six 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. currently has an average rating of “Moderate Buy” and an average target price of $157.35.

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.