JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Stone Point Wealth LLC

Posted by Defense World Staff on Jul 8th, 2023

Stone Point Wealth LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,106 shares of the financial services provider’s stock after selling 1,370 shares during the period. JPMorgan Chase & Co. accounts for 2.2% of Stone Point Wealth LLC’s holdings, making the stock its 6th largest position. Stone Point Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $4,966,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P raised its position in shares of 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 buying an additional 99,636 shares in the last quarter. BCK Partners Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $2,455,000. LSV Asset Management raised its position in shares of 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 buying an additional 9,800 shares in the last quarter. Wsfs Capital Management LLC raised its position in shares of 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 buying an additional 1,749 shares in the last quarter. Finally, Lumature Wealth Partners LLC raised its position in shares of 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 buying an additional 3,527 shares in the last quarter. 70.10% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $144.36 on Friday. The stock has a market cap of $421.86 billion, a PE ratio of 10.65, a PEG ratio of 1.99 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $147.48. The firm’s fifty day moving average price is $139.48 and its two-hundred day moving average price is $137.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM – Free Report) last posted 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. The business had revenue of $38.35 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $2.63 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 14.54 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction on Thursday, May 11th. The stock was 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 directly owns 566,665 shares in the company, valued at $77,026,773.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction dated Thursday, May 11th. The stock was 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 in the company, valued at approximately $77,026,773.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the sale, the insider now owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The disclosure for this sale can be found here. Insiders sold 145,861 shares of company stock worth $19,858,275 over the last three months. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a research report on Monday, April 17th. Evercore ISI lowered their price objective on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. Oppenheimer boosted their price objective on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the company an “outperformer” rating in a research report on Monday, April 17th. Citigroup lowered their price objective on shares of JPMorgan Chase & Co. from $165.00 to $160.00 in a research report on Monday, June 26th. Finally, Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.06.

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.