Hennion & Walsh Asset Management Inc. Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 9th, 2023

Hennion & Walsh Asset Management Inc. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,690 shares of the financial services provider’s stock after selling 5,251 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,214,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Retirement Financial Solutions LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $26,000. Adirondack Retirement Specialists Inc. lifted its position in shares of JPMorgan Chase & Co. by 510.8% during the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 189 shares in the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $30,000. Boulder Wealth Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. Finally, Capital Directions Investment Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.8 %

Shares of NYSE:JPM opened at $144.34 on Friday. The stock’s 50-day moving average price is $139.48 and its 200-day moving average price is $137.29. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $147.48. The stock has a market capitalization of $421.80 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.98 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

JPMorgan Chase & Co. (NYSE:JPM – Free Report) last announced its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating 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 period last year, the firm earned $2.63 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 14.47 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders 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 dividend yield of 2.77%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.52%.

Insider Transactions at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 2,482 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $141.39, for a total transaction of $350,929.98. Following the completion of the sale, the insider now directly owns 41,333 shares in the company, valued at $5,844,072.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Daniel E. Pinto sold 113,640 shares of the 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 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 SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Scher sold 2,482 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $141.39, for a total transaction of $350,929.98. Following the sale, the insider now owns 41,333 shares of the company’s stock, valued at $5,844,072.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,861 shares of company stock worth $19,858,275. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent research reports. Credit Suisse Group increased their target price on JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Royal Bank of Canada decreased their price target on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, March 24th. Citigroup decreased their price target on shares of JPMorgan Chase & Co. from $165.00 to $160.00 in a report on Monday, June 26th. Finally, StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.