Triangle Securities Wealth Management Sells 679 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 9th, 2023

Triangle Securities Wealth Management lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,718 shares of the financial services provider’s stock after selling 679 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.4% of Triangle Securities Wealth Management’s holdings, making the stock its 16th biggest holding. Triangle Securities Wealth Management’s holdings in JPMorgan Chase & Co. were worth $3,872,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Kathmere Capital Management LLC boosted its position in JPMorgan Chase & Co. by 16.2% during the 1st quarter. Kathmere Capital Management LLC now owns 3,534 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 492 shares in the last quarter. Marino Stram & Associates LLC boosted its position in JPMorgan Chase & Co. by 1.3% during the 1st quarter. Marino Stram & Associates LLC now owns 27,880 shares of the financial services provider’s stock valued at $3,633,000 after acquiring an additional 347 shares in the last quarter. Altfest L J & Co. Inc. boosted its position in JPMorgan Chase & Co. by 1.3% during the 1st quarter. Altfest L J & Co. Inc. now owns 23,803 shares of the financial services provider’s stock valued at $3,102,000 after acquiring an additional 311 shares in the last quarter. Empire Financial Management Company LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $5,415,000. Finally, Grimes & Company Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 3.6% during the 1st quarter. Grimes & Company Inc. now owns 87,642 shares of the financial services provider’s stock valued at $11,421,000 after buying an additional 3,052 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank of Canada dropped their target price 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. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $157.00 to $160.00 in a research note on Tuesday, May 23rd. Oppenheimer increased their target price on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a research note on Monday, April 17th. Finally, Bank of America upped their price target on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $158.06.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the sale, the chief executive officer now owns 277,161 shares in the company, valued at $39,401,207.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 145,861 shares of company stock worth $19,858,275. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.8 %

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

JPMorgan Chase & Co. (NYSE:JPM – Free Report) last posted its 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 return on equity of 16.02% and a net margin of 23.73%. The company had revenue of $38.35 billion for the quarter, compared to the consensus estimate of $35.77 billion. During the same quarter in the prior year, the company earned $2.63 earnings per share. JPMorgan Chase & Co.’s revenue was up 24.8% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 14.47 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 given a $1.00 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 annualized dividend and a yield of 2.77%. JPMorgan Chase & Co.’s payout ratio is presently 29.52%.

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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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