Alesco Advisors LLC Has $1.02 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 12th, 2023

Alesco Advisors LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,810 shares of the financial services provider’s stock after purchasing an additional 197 shares during the period. Alesco Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,018,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Twin Lakes Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 0.5% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,786 shares of the financial services provider’s stock worth $1,849,000 after purchasing an additional 71 shares in the last quarter. Karpas Strategies LLC increased its holdings in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Karpas Strategies LLC now owns 21,608 shares of the financial services provider’s stock worth $2,898,000 after purchasing an additional 71 shares in the last quarter. Oxler Private Wealth LLC grew its stake in JPMorgan Chase & Co. by 0.9% in the fourth quarter. Oxler Private Wealth LLC now owns 8,158 shares of the financial services provider’s stock valued at $1,094,000 after acquiring an additional 71 shares during the period. Sanford Advisory Services LLC grew its stake in JPMorgan Chase & Co. by 2.4% in the fourth quarter. Sanford Advisory Services LLC now owns 3,176 shares of the financial services provider’s stock valued at $426,000 after acquiring an additional 73 shares during the period. Finally, Gould Asset Management LLC CA grew its stake in JPMorgan Chase & Co. by 1.2% in the fourth quarter. Gould Asset Management LLC CA now owns 6,580 shares of the financial services provider’s stock valued at $882,000 after acquiring an additional 75 shares during the period. Institutional investors and hedge funds own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $147.46 on Wednesday. The business’s fifty day simple moving average is $139.73 and its 200 day simple moving average is $137.54. The firm has a market capitalization of $430.92 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $147.82. 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 – Get Free Report) last issued its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The business had revenue of $38.35 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $2.63 earnings per share. As a group, analysts anticipate that JPMorgan Chase & Co. will post 14.47 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.71%. JPMorgan Chase & Co.’s payout ratio is presently 29.52%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the business’s 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 sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the business’s 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 sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ashley Bacon sold 16,766 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $135.00, for a total value of $2,263,410.00. Following the completion of the sale, the insider now owns 195,356 shares in the company, valued at $26,373,060. The disclosure for this sale can be found here. Insiders have sold a total of 145,861 shares of company stock worth $19,858,275 over the last ninety days. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on JPM shares. Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods raised their price objective 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. StockNews.com started coverage on JPMorgan Chase & Co. in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Finally, Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a research note on Friday, July 7th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.94.

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.