Kinneret Advisory LLC Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 21st, 2023

Kinneret Advisory LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,094 shares of the financial services provider’s stock after selling 2,476 shares during the quarter. Kinneret Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $6,007,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Retirement Financial Solutions LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $26,000. Adirondack Retirement Specialists Inc. boosted its stake 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 worth $29,000 after buying an additional 189 shares in the last quarter. Creative Capital Management Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $30,000. Boulder Wealth Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Finally, Capital Directions Investment Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $44,000. Institutional investors own 70.10% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $156.20 on Friday. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $156.59. The firm has a 50-day moving average price of $141.96 and a 200-day moving average price of $138.41. The firm has a market capitalization of $456.46 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.10. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 1.28.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $3.62 by $0.75. The company had revenue of $42.40 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.76 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 14.49 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is 25.74%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JPM. Credit Suisse Group lifted their price target on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a report on Monday. Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Bank of America raised their price target on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a report on Monday, April 17th. Odeon Capital Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Finally, 888 reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 26th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.65.

Insider Activity

In other JPMorgan Chase & Co. 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 transaction, the chief executive officer now directly owns 566,665 shares in the company, valued at approximately $77,026,773.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ashley Bacon sold 16,766 shares of the 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 sale, the insider now directly owns 195,356 shares in the company, valued at approximately $26,373,060. The disclosure for this sale can be found here. Over the last 90 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. 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.