Arlington Partners LLC Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 18th, 2023

Arlington Partners LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 77.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,676 shares of the financial services provider’s stock after buying an additional 3,362 shares during the quarter. Arlington Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,000,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P grew its stake in JPMorgan Chase & Co. by 81.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock worth $30,321,000 after purchasing an additional 99,636 shares in the last quarter. BCK Partners Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $2,455,000. LSV Asset Management lifted its holdings in shares of JPMorgan Chase & Co. by 35.6% in the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after purchasing an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 70.8% in the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 1,749 shares during the last quarter. Finally, Lumature Wealth Partners LLC raised its stake in JPMorgan Chase & Co. by 1,451.4% during the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 3,527 shares during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on JPM. 888 reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 26th. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. Barclays increased their target price on JPMorgan Chase & Co. from $179.00 to $182.00 in a research note on Sunday. 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, The Goldman Sachs Group increased their target price on JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $161.44.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the transaction, the insider now directly owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the sale, the insider now directly owns 45,056 shares in the company, valued at $6,083,461.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas B. Petno sold 4,932 shares of the firm’s 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 sale, the chief executive officer now owns 282,091 shares of the company’s stock, valued at $38,054,075.90. The disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock valued at $19,858,275 over the last three months. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $153.35 on Tuesday. The business’s fifty day moving average price is $140.86 and its two-hundred day moving average price is $138.04. The stock has a market cap of $448.13 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.85 and a current ratio of 0.90. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $153.75.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.74%.

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.