Source Financial Advisors LLC Sells 3,452 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 8th, 2023

Source Financial Advisors LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,231 shares of the financial services provider’s stock after selling 3,452 shares during the quarter. JPMorgan Chase & Co. accounts for 1.6% of Source Financial Advisors LLC’s portfolio, making the stock its 13th largest holding. Source Financial Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $4,721,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JPM. Moneta Group Investment Advisors LLC boosted its position in shares of 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 valued at $13,141,876,000 after acquiring an additional 97,907,897 shares during the period. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $3,894,646,000. Price T Rowe Associates Inc. MD raised its stake in shares of 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 valued at $4,087,917,000 after purchasing an additional 12,654,947 shares in the last quarter. Morgan Stanley raised its stake in shares of 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 valued at $7,918,506,000 after purchasing an additional 8,088,433 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $556,791,000. 70.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,932 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $134.90, for a total transaction of $665,326.80. Following the transaction, the chief executive officer now owns 282,091 shares in the company, valued at $38,054,075.90. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Douglas B. Petno sold 4,930 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now owns 277,161 shares in the company, valued at approximately $39,401,207.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas B. Petno sold 4,932 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $134.90, for a total value of $665,326.80. Following the transaction, the chief executive officer now owns 282,091 shares in the company, valued at approximately $38,054,075.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,861 shares of company stock worth $19,858,275. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $144.36 on Friday. The business’s 50-day simple moving average is $139.48 and its 200 day simple moving average is $137.24. The stock has a market cap of $421.86 billion, a price-to-earnings ratio of 10.65, a P/E/G ratio of 1.99 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month 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.

JPMorgan Chase & Co. (NYSE:JPM – Free Report) last issued its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The firm had revenue of $38.35 billion for the quarter, compared to analysts’ expectations of $35.77 billion. During the same quarter last year, the business earned $2.63 earnings per share. The company’s revenue was up 24.8% compared to the same quarter last year. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 14.54 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently commented on JPM shares. 92 Resources restated a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Friday, May 12th. Credit Suisse Group upped their target price on JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a research note on Monday, April 17th. Royal Bank of Canada cut their target price on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. Finally, BMO Capital Markets upped their target price on JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. Six analysts have rated the stock with a hold rating and thirteen 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 an average price target of $158.06.

JPMorgan Chase & Co. Company 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.