Well Done LLC Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 8th, 2023

Well Done LLC grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,849 shares of the financial services provider’s stock after purchasing an additional 115 shares during the quarter. Well Done LLC’s holdings in JPMorgan Chase & Co. were worth $1,283,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its holdings in JPMorgan Chase & Co. by 105,652.2% in the fourth 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 purchasing an additional 97,907,897 shares during the last quarter. Morgan Stanley grew its holdings in JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares during the last quarter. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock worth $6,859,512,000 after purchasing an additional 1,082,325 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in JPMorgan Chase & Co. by 71.0% in the fourth 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 purchasing an additional 12,654,947 shares during the last quarter. Finally, Norges Bank purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth $3,894,646,000. 70.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 566,665 shares in the company, valued at approximately $77,026,773.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ashley Bacon sold 16,766 shares of the company’s stock in a transaction dated 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 sold 145,861 shares of company stock worth $19,858,275. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8 %

Shares of JPMorgan Chase & Co. stock opened at $144.36 on Friday. The firm has a 50-day simple moving average of $139.48 and a two-hundred day simple moving average of $137.24. The company has a market cap of $421.86 billion, a P/E ratio of 10.65, a price-to-earnings-growth 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 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 issued its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping 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 net margin of 23.73% and a return on equity of 16.02%. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.63 earnings per share. As a group, equities analysts predict that JPMorgan Chase & Co. will post 14.54 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.77%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.52%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on JPM shares. 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 report on Monday, April 17th. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 18th. They set a “hold” rating on the stock. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a report on Friday. Finally, 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 report on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.06.

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.