Carnegie Capital Asset Management LLC Has $45.07 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 6th, 2023

Carnegie Capital Asset Management LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345,873 shares of the financial services provider’s stock after acquiring an additional 15,420 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.8% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 5th largest position. Carnegie Capital Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $45,071,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Retirement Financial Solutions LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $26,000. Creative Capital Management Investments LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $30,000. Adirondack Retirement Specialists Inc. raised its holdings in JPMorgan Chase & Co. by 510.8% in the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after buying an additional 189 shares during the last quarter. Boulder Wealth Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $43,000. Finally, Capital Directions Investment Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $144.64 on Thursday. The company has a market cap of $422.68 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $147.48. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average of $139.24 and a 200-day moving average of $137.10.

JPMorgan Chase & Co. (NYSE:JPM – Free Report) last posted its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm posted $2.63 EPS. JPMorgan Chase & Co.’s revenue was up 24.8% compared to the same quarter last year. On average, equities analysts forecast that JPMorgan Chase & Co. will post 14.54 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.77%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is currently 29.52%.

Analyst Ratings Changes

A number of brokerages recently issued reports on JPM. Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $157.00 to $160.00 in a report on Tuesday, May 23rd. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 18th. They issued a “hold” rating for the company. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Monday, April 17th. The Goldman Sachs Group raised their price target on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday, April 14th. Finally, Citigroup lowered their price target on shares of JPMorgan Chase & Co. from $165.00 to $160.00 in a report on Monday, June 26th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.35.

Insider Activity at JPMorgan Chase & Co.

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 value of $167,424.80. Following the completion of 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 SEC, which is accessible through the SEC website. 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 value of $167,424.80. Following the completion of 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 SEC, which is accessible through the SEC website. Also, 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 completion of the sale, 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. In the last 90 days, insiders sold 145,861 shares of company stock valued at $19,858,275. 0.79% of the stock is owned by company insiders.

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.