SignalPoint Asset Management LLC Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 28th, 2023

SignalPoint Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,846 shares of the financial services provider’s stock after purchasing an additional 131 shares during the period. SignalPoint Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,022,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JPM. Retirement Financial Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $26,000. Adirondack Retirement Specialists Inc. increased its stake in shares of JPMorgan Chase & Co. by 510.8% during the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 189 shares in the last quarter. Creative Capital Management Investments LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $30,000. Boulder Wealth Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Finally, Capital Directions Investment Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $44,000. 70.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JPM. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research report on Monday, April 17th. Odeon Capital Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Barclays decreased their target price on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 12th. BMO Capital Markets raised their target price on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Finally, Jefferies Financial Group decreased their price target on shares of JPMorgan Chase & Co. from $152.00 to $149.00 in a report on Monday, May 15th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $157.35.

Insider Buying and Selling

In related news, Vice Chairman Peter Scher sold 1,240 shares of JPMorgan Chase & Co. stock in a transaction 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 sale, the insider now owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction on 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 sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Peter Scher sold 1,240 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the sale, the insider now directly owns 45,056 shares in the company, valued at approximately $6,083,461.12. The disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock valued at $19,858,275 in the last quarter. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $139.23 on Wednesday. The company’s fifty 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 company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $406.87 billion, a PE ratio of 10.28, a P/E/G ratio of 1.92 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, beating 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 business had revenue of $38.35 billion for the quarter, compared to the consensus estimate of $35.77 billion. During the same quarter last year, the firm posted $2.63 EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 14.43 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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