Douglas Lane & Associates LLC Sells 16,104 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jun 30th, 2023

Douglas Lane & Associates LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 936,265 shares of the financial services provider’s stock after selling 16,104 shares during the quarter. JPMorgan Chase & Co. comprises approximately 2.0% of Douglas Lane & Associates LLC’s holdings, making the stock its 4th biggest holding. Douglas Lane & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $122,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Vanguard Group Inc. lifted its holdings in JPMorgan Chase & Co. by 1.1% in 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 buying an additional 2,918,554 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 105,652.2% in 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 buying an additional 97,907,897 shares in the last quarter. Morgan Stanley lifted its holdings in JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares in the last quarter. Geode Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 2.2% in 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 buying an additional 1,082,325 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in JPMorgan Chase & Co. by 71.0% in 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 buying an additional 12,654,947 shares in the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $143.43 on Friday. 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. has a fifty-two week low of $101.28 and a fifty-two week high of $144.34. The firm has a 50-day simple moving average of $138.66 and a 200 day simple moving average of $136.69. The company has a market cap of $419.14 billion, a PE ratio of 10.59, a P/E/G ratio of 1.93 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Free Report) last announced its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share 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 during the quarter, compared to the consensus estimate of $35.77 billion. During the same quarter in the prior year, the firm earned $2.63 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 14.46 EPS 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. Shareholders of record on Thursday, July 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.79%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JPM. 92 Resources reiterated a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Friday, May 12th. BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Evercore ISI cut their target price on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a research note on Friday, May 12th. Finally, Credit Suisse Group upped their target price on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.35.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 277,161 shares in the company, valued at approximately $39,401,207.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 277,161 shares in the company, valued at approximately $39,401,207.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas B. Petno sold 4,932 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $134.90, for a total transaction of $665,326.80. Following the completion of the transaction, the chief executive officer now owns 282,091 shares of the company’s stock, valued at approximately $38,054,075.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 145,861 shares of company stock worth $19,858,275. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company 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.