Signaturefd LLC Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 24th, 2023

Signaturefd LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,156 shares of the financial services provider’s stock after buying an additional 3,057 shares during the period. Signaturefd LLC’s holdings in JPMorgan Chase & Co. were worth $7,969,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its stake in 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 last quarter. Morgan Stanley grew its stake in 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 last quarter. Geode Capital Management LLC grew its stake in JPMorgan Chase & Co. by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock worth $6,859,512,000 after buying an additional 1,082,325 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 last quarter. Finally, Norges Bank purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $3,894,646,000. 70.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction of $15,447,085.20. Following the completion of the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Daniel E. Pinto sold 113,640 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the business’s 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 completion of the transaction, the insider now directly owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,861 shares of company stock valued at $19,858,275. 0.79% of the stock is owned by insiders.

Analyst Ratings Changes

JPM has been the topic of a number of research reports. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $174.00 to $180.00 in a research note on Monday, July 17th. Barclays lifted their target price on JPMorgan Chase & Co. from $179.00 to $182.00 in a research note on Sunday, July 16th. Credit Suisse Group lifted their target price on JPMorgan Chase & Co. from $160.00 to $170.00 in a research note on Monday, July 17th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 target price on the stock in a research note on Friday, July 7th. Finally, Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a research note 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.65.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $154.95 on Monday. The stock has a fifty day moving average price of $142.38 and a 200 day moving average price of $138.60. The stock has a market cap of $452.81 billion, a PE ratio of 9.97, a P/E/G ratio of 2.05 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year 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.

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 (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.75. The firm had revenue of $42.40 billion during the quarter, compared to analysts’ expectations of $38.66 billion. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. JPMorgan Chase & Co.’s revenue was up 34.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.76 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 15.15 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 annualized dividend and a yield of 2.58%. JPMorgan Chase & Co.’s dividend payout ratio 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.