JPMorgan Chase & Co. (NYSE:JPM) Holdings Lifted by Benjamin Edwards Inc.

Posted by Defense World Staff on Jul 21st, 2023

Benjamin Edwards Inc. increased its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,559 shares of the financial services provider’s stock after acquiring an additional 2,518 shares during the period. Benjamin Edwards Inc.’s holdings in JPMorgan Chase & Co. were worth $2,679,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts have recently weighed in on JPM shares. Royal Bank of Canada decreased their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, March 24th. BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Bank of America raised their target price on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. Societe Generale downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Finally, Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $160.00 to $173.00 and gave the company an “overweight” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $164.65.

Insider Activity

In other news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. 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 transaction, the chief executive officer now owns 566,665 shares in the company, valued at approximately $77,026,773.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ashley Bacon sold 16,766 shares of the firm’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 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. In the last quarter, insiders have sold 145,861 shares of company stock worth $19,858,275. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $156.20 on Friday. The stock has a market cap of $456.46 billion, a P/E ratio of 10.05, a PEG ratio of 2.12 and a beta of 1.10. The stock has a 50 day simple moving average of $141.96 and a 200 day simple moving average of $138.41. 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. has a 1-year low of $101.28 and a 1-year high of $156.59.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping 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 analyst estimates of $38.66 billion. During the same quarter last year, the company earned $2.76 EPS. The company’s revenue was up 34.1% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 14.49 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

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.