Lindbrook Capital LLC Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 18th, 2023

Lindbrook Capital LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the first quarter, HoldingsChannel reports. The firm owned 31,927 shares of the financial services provider’s stock after selling 161 shares during the period. Lindbrook Capital LLC’s holdings in JPMorgan Chase & Co. were worth $4,160,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Retirement Financial Solutions LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $26,000. Adirondack Retirement Specialists Inc. lifted its position in JPMorgan Chase & Co. by 510.8% in the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after buying an additional 189 shares during the last quarter. Creative Capital Management Investments LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $30,000. Boulder Wealth Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. Finally, Capital Directions Investment Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Up 2.4 %

Shares of NYSE:JPM opened at $153.35 on Tuesday. The firm’s 50 day moving average price is $140.86 and its 200 day moving average price is $138.04. The stock has a market cap of $448.13 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 2.08 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 $153.75. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 1.28.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $3.62 by $0.75. The company had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The firm’s revenue was up 34.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.76 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 14.39 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared 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 yield of 2.61%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.74%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Societe Generale cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. 888 reissued a “maintains” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 26th. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Bank of America increased 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 report on Monday, April 17th. Finally, The Goldman Sachs Group increased their price target on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $161.44.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction that occurred on 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction that occurred on 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas B. Petno sold 4,932 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $134.90, for a total transaction of $665,326.80. Following the completion of the transaction, the chief executive officer now owns 282,091 shares in the company, valued at $38,054,075.90. The disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock worth $19,858,275 over the last three months. Insiders own 0.79% of the company’s stock.

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.