Quantum Private Wealth LLC Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 6th, 2023

Quantum Private Wealth LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,557 shares of the financial services provider’s stock after selling 300 shares during the period. Quantum Private Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Retirement Financial Solutions LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $26,000. Adirondack Retirement Specialists Inc. lifted its stake in shares of 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 purchasing an additional 189 shares during the period. Creative Capital Management Investments LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $30,000. Boulder Wealth Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $144.64 on Thursday. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $147.48. The firm has a market capitalization of $422.68 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 2.02 and a beta of 1.10. The company’s 50-day moving average is $139.24 and its two-hundred day moving average is $137.10. 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. (NYSE:JPM – Free Report) last announced its quarterly earnings results 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 analysts’ expectations of $35.77 billion. During the same period last year, the business earned $2.63 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 14.54 EPS 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. Shareholders of record on Thursday, July 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.77%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.52%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on JPM shares. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. The Goldman Sachs Group boosted their price objective on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. BMO Capital Markets upped their price objective on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Finally, Credit Suisse Group lifted their target price on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.35.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 16,766 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $135.00, for a total value of $2,263,410.00. Following the sale, the insider now directly owns 195,356 shares in the company, valued at $26,373,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction that occurred 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 sale, 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 filing with the SEC, which can be accessed through this hyperlink. Also, insider Ashley Bacon sold 16,766 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.00, for a total transaction of $2,263,410.00. Following the transaction, the insider now owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,861 shares of company stock valued at $19,858,275. 0.79% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

(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.