JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Van Hulzen Asset Management LLC

Posted by Defense World Staff on Jul 24th, 2023

Van Hulzen Asset Management LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 15.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,959 shares of the financial services provider’s stock after purchasing an additional 6,333 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $6,245,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P lifted its position 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 acquiring an additional 99,636 shares during the period. BCK Partners Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $2,455,000. LSV Asset Management raised its stake 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 valued at $5,085,000 after buying an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC raised its stake 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 valued at $575,000 after buying an additional 1,749 shares during the last quarter. Finally, Lumature Wealth Partners LLC raised its stake 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 valued at $514,000 after buying an additional 3,527 shares during the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Odeon Capital Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research note on Friday, July 7th. The Goldman Sachs Group lifted their price target on JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Jefferies Financial Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price target for the company from $149.00 to $165.00 in a research note on Tuesday, July 11th. Finally, StockNews.com initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $164.65.

JPMorgan Chase & Co. Trading Down 0.8 %

Shares of JPMorgan Chase & Co. stock opened at $154.95 on Monday. The firm has a market capitalization of $452.81 billion, a price-to-earnings ratio of 9.97, a PEG ratio of 2.05 and a beta of 1.10. 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 debt-to-equity ratio of 1.28, a quick ratio of 0.85 and a current ratio of 0.90. The stock has a 50 day moving average of $142.38 and a 200 day moving average of $138.60.

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, topping the consensus estimate of $3.62 by $0.75. The company had revenue of $42.40 billion during the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The firm’s revenue for the quarter was up 34.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.76 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 15.15 earnings per share 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. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.74%.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the completion of the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the completion of the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $15,447,085.20. Following the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The disclosure for this sale can be found here. Insiders sold a total of 145,861 shares of company stock worth $19,858,275 over the last ninety days. Company insiders own 0.79% of the company’s stock.

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.