Affinity Wealth Management LLC Has $2.48 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 24th, 2023

Affinity Wealth Management LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,014 shares of the financial services provider’s stock after purchasing an additional 885 shares during the quarter. Affinity Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares during the period. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $3,894,646,000. Price T Rowe Associates Inc. MD grew its position in shares of JPMorgan Chase & Co. by 71.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after buying an additional 12,654,947 shares during the period. Morgan Stanley grew its position in shares of JPMorgan Chase & Co. by 15.9% during the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $556,791,000. 70.10% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.8 %

Shares of JPMorgan Chase & Co. stock opened at $154.95 on Monday. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $156.59. The stock has a market cap of $452.81 billion, a P/E ratio of 9.97, a P/E/G ratio of 2.05 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. The business’s 50 day moving average is $142.38 and its 200-day moving average is $138.60.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share (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 company had revenue of $42.40 billion for the quarter, compared to analysts’ expectations of $38.66 billion. During the same quarter in the prior year, the business posted $2.76 EPS. The business’s revenue was up 34.1% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 15.15 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JPM. The Goldman Sachs Group boosted their target price on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. StockNews.com assumed coverage on JPMorgan Chase & Co. in a report on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup cut JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Wednesday, July 12th. Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Finally, Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $158.00 to $168.00 in a report on Monday, July 17th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.65.

Insider Activity at JPMorgan Chase & Co.

In related news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction 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 sale, the insider now owns 45,056 shares in the company, valued at approximately $6,083,461.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Ashley Bacon sold 16,766 shares of the stock in a transaction 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 in the company, valued at approximately $26,373,060. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction 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 transaction, the insider now owns 45,056 shares in the company, valued at approximately $6,083,461.12. 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. Company insiders own 0.79% of the company’s stock.

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.