Beech Hill Advisors Inc. Purchases 2,504 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 29th, 2023

Beech Hill Advisors Inc. lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 12.3% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,815 shares of the financial services provider’s stock after purchasing an additional 2,504 shares during the period. Beech Hill Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $2,973,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV boosted its stake in shares of JPMorgan Chase & Co. by 11.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 336,522 shares of the financial services provider’s stock worth $45,128,000 after acquiring an additional 34,068 shares during the last quarter. Argus Investors Counsel Inc. lifted its position in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock valued at $3,256,000 after purchasing an additional 149 shares in the last quarter. Hixon Zuercher LLC grew its holdings in JPMorgan Chase & Co. by 0.8% during the fourth quarter. Hixon Zuercher LLC now owns 34,276 shares of the financial services provider’s stock valued at $4,596,000 after purchasing an additional 264 shares during the period. CHURCHILL MANAGEMENT Corp increased its position in JPMorgan Chase & Co. by 3.4% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 29,711 shares of the financial services provider’s stock worth $3,872,000 after buying an additional 984 shares in the last quarter. Finally, Athena Investment Management grew its stake in shares of JPMorgan Chase & Co. by 0.9% during the 4th quarter. Athena Investment Management now owns 28,247 shares of the financial services provider’s stock valued at $3,788,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 70.10% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.4 %

Shares of JPM stock opened at $138.60 on Thursday. The company has a market cap of $405.03 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 1.93 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $144.34. The stock’s 50 day simple moving average is $138.60 and its two-hundred day simple moving average is $136.64. 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. (NYSE:JPM – Free Report) last released its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.69. The company had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.63 EPS. Research analysts predict that JPMorgan Chase & Co. will post 14.43 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.89%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.52%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on JPM. 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. BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. StockNews.com initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Finally, The Goldman Sachs Group increased their target price on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.35.

Insider Buying and Selling

In related news, CEO Douglas B. Petno sold 4,930 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the sale, the chief executive officer now directly owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Douglas B. Petno sold 4,930 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Peter Scher sold 2,482 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now owns 41,333 shares in the company, valued at $5,844,072.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,861 shares of company stock valued at $19,858,275. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

(Free Report)

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.