Elmwood Wealth Management Inc. Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 23rd, 2023

Elmwood Wealth Management Inc. raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,780 shares of the financial services provider’s stock after buying an additional 145 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Retirement Financial Solutions LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $26,000. Adirondack Retirement Specialists Inc. increased its holdings in shares of 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 purchasing an additional 189 shares during the period. Boulder Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. Capital Directions Investment Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $44,000. Finally, VitalStone Financial LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $58,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JPM. Jefferies Financial Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $165.00 in a report on Tuesday, July 11th. Evercore ISI dropped their price objective on JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. Morgan Stanley upped their price objective on JPMorgan Chase & Co. from $160.00 to $173.00 and gave the stock an “overweight” rating in a report on Tuesday, July 18th. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $174.00 to $180.00 in a report on Monday, July 17th. Finally, BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.65.

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 that occurred on 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 owns 45,056 shares in the company, valued at approximately $6,083,461.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Ashley Bacon sold 16,766 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.00, for a total value of $2,263,410.00. Following the sale, the insider now owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was 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 approximately $6,083,461.12. The disclosure for this sale can be found here. Insiders sold a total of 145,861 shares of company stock worth $19,858,275 in the last 90 days. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $154.95 on Friday. 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 twelve month low of $101.28 and a twelve month high of $156.59. The company has a market capitalization of $452.81 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.10. The business’s 50-day moving average price is $142.38 and its 200 day moving average price is $138.58.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share 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 during the quarter, compared to analyst estimates of $38.66 billion. During the same quarter last 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, research analysts predict that JPMorgan Chase & Co. will post 14.49 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.58%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.74%.

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.