JPMorgan Chase & Co. (NYSE:JPM) Stake Raised by Benjamin Edwards Inc.

Posted by Defense World Staff on Jul 21st, 2023

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

Other institutional investors have also made changes to their positions in the company. Retirement Financial Solutions LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $26,000. Adirondack Retirement Specialists Inc. lifted its stake in shares of JPMorgan Chase & Co. by 510.8% during the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 189 shares during the period. Creative Capital Management Investments LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $30,000. Boulder Wealth Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $43,000. Finally, Capital Directions Investment Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $44,000. 70.10% of the stock is owned by institutional investors.

Insider Activity

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.02, for a total value 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 SEC, which is available through this hyperlink. In other news, Vice Chairman Peter Scher sold 1,240 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were 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 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 can be accessed through the SEC website. Also, CEO Jennifer Piepszak sold 1,871 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $140.70, for a total transaction of $263,249.70. Following the completion of the transaction, the chief executive officer now owns 22,926 shares in the company, valued at $3,225,688.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 145,861 shares of company stock worth $19,858,275. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a report on Monday, April 17th. Jefferies Financial Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $165.00 in a report on Tuesday, July 11th. Barclays boosted their target price on JPMorgan Chase & Co. from $179.00 to $182.00 in a research report on Sunday, July 16th. Credit Suisse Group upped their target price on JPMorgan Chase & Co. from $160.00 to $170.00 in a report on Monday. Finally, Bank of America increased their price objective 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. Six equities research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.65.

JPMorgan Chase & Co. Trading Up 1.3 %

Shares of JPMorgan Chase & Co. stock opened at $156.20 on Friday. The company has a fifty day moving average of $141.96 and a 200 day moving average of $138.41. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $156.59. The company has a market capitalization of $456.46 billion, a P/E ratio of 10.05, a P/E/G ratio of 2.12 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. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 34.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.76 EPS. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 14.49 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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