JPMorgan Chase & Co. (NYSE:JPM) Position Raised by Donaldson Capital Management LLC

Posted by Defense World Staff on Jun 28th, 2023

Donaldson Capital Management LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 26.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 406,247 shares of the financial services provider’s stock after buying an additional 85,622 shares during the period. JPMorgan Chase & Co. makes up about 2.5% of Donaldson Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Donaldson Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $52,938,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 1.1% in the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after buying an additional 2,918,554 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in JPMorgan Chase & Co. by 105,652.2% during the 4th 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 purchasing an additional 97,907,897 shares in the last quarter. Morgan Stanley grew its position in JPMorgan Chase & Co. by 15.9% during the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares in the last quarter. Geode Capital Management LLC grew its position in JPMorgan Chase & Co. by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock worth $6,859,512,000 after purchasing an additional 1,082,325 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in JPMorgan Chase & Co. by 71.0% during the 4th 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 purchasing an additional 12,654,947 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. Credit Suisse Group lifted their price objective on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. Oppenheimer lifted their price objective on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research report on Monday, April 17th. 92 Resources restated a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Friday, May 12th. Finally, Royal Bank of Canada lowered their price target on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, March 24th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.35.

Insider Activity

In other news, CEO Daniel E. Pinto sold 113,640 shares of the company’s 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 owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Vice Chairman Peter Scher sold 2,482 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $141.39, for a total transaction of $350,929.98. Following the completion of the transaction, the insider now owns 41,333 shares of the company’s stock, valued at $5,844,072.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel E. Pinto sold 113,640 shares of the company’s 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 transaction, 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. Over the last 90 days, insiders sold 145,861 shares of company stock valued at $19,858,275. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.0 %

JPMorgan Chase & Co. stock opened at $139.23 on Wednesday. The firm has a market cap of $406.87 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.85. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $144.34. The firm has a fifty day moving average price of $138.66 and a two-hundred day moving average price of $136.63.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The firm had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The business’s revenue was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.63 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 14.43 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend 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.