CENTRAL TRUST Co Sells 5,540 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 5th, 2023

CENTRAL TRUST Co reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,974 shares of the financial services provider’s stock after selling 5,540 shares during the period. CENTRAL TRUST Co’s holdings in JPMorgan Chase & Co. were worth $22,671,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P boosted its stake in JPMorgan Chase & Co. by 81.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after acquiring an additional 99,636 shares during the last quarter. BCK Partners Inc. purchased a new position in JPMorgan Chase & Co. in the first quarter valued at about $2,455,000. LSV Asset Management boosted its stake in 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 valued at $5,085,000 after acquiring an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC boosted its stake in 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 valued at $575,000 after acquiring an additional 1,749 shares during the last quarter. Finally, Lumature Wealth Partners LLC boosted its stake in 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 valued at $514,000 after acquiring an additional 3,527 shares during the last quarter. 70.10% of the stock is owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the completion of the sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Peter Scher sold 2,482 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 41,333 shares of the company’s stock, valued at approximately $5,844,072.87. 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. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JPM. Citigroup dropped their target price on shares of JPMorgan Chase & Co. from $165.00 to $160.00 in a research note on Monday, June 26th. Jefferies Financial Group dropped their target price on shares of JPMorgan Chase & Co. from $152.00 to $149.00 in a research note on Monday, May 15th. Odeon Capital Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. Finally, StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.35.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $146.61 on Wednesday. The firm’s 50 day simple moving average is $139.05 and its 200 day simple moving average is $137.04. 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 firm has a market capitalization of $428.44 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $147.48.

JPMorgan Chase & Co. (NYSE:JPM – Free Report) last issued its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The firm had revenue of $38.35 billion for 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 for the quarter was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.63 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 14.53 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared 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. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is 29.52%.

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.