Northeast Investment Management Buys 1,991 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 24th, 2023

Northeast Investment Management increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 211,219 shares of the financial services provider’s stock after purchasing an additional 1,991 shares during the quarter. JPMorgan Chase & Co. accounts for 1.7% of Northeast Investment Management’s holdings, making the stock its 21st biggest holding. Northeast Investment Management’s holdings in JPMorgan Chase & Co. were worth $27,524,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Twin Lakes Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.5% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,786 shares of the financial services provider’s stock valued at $1,849,000 after purchasing an additional 71 shares during the period. Karpas Strategies LLC boosted its position in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Karpas Strategies LLC now owns 21,608 shares of the financial services provider’s stock worth $2,898,000 after purchasing an additional 71 shares in the last quarter. Oxler Private Wealth LLC boosted its position in JPMorgan Chase & Co. by 0.9% during the fourth quarter. Oxler Private Wealth LLC now owns 8,158 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 71 shares in the last quarter. Sanford Advisory Services LLC boosted its position in JPMorgan Chase & Co. by 2.4% during the fourth quarter. Sanford Advisory Services LLC now owns 3,176 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 73 shares in the last quarter. Finally, Gould Asset Management LLC CA boosted its position in JPMorgan Chase & Co. by 1.2% during the fourth quarter. Gould Asset Management LLC CA now owns 6,580 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $154.95 on Monday. The stock’s fifty day moving average is $142.38 and its two-hundred day moving average is $138.60. The firm has a market capitalization of $452.81 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 2.05 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. has a fifty-two week low of $101.28 and a fifty-two week high of $156.59.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released 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 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 quarter in the previous year, the company posted $2.76 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 15.15 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be given a $1.00 dividend. 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 is currently 25.74%.

Analysts Set New Price Targets

A number of brokerages have issued reports on JPM. Bank of America increased their price target 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. Societe Generale downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. The Goldman Sachs Group increased their price target on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Finally, Evercore ISI lowered their price target on JPMorgan Chase & Co. from $155.00 to $151.00 in a research note on Friday, May 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.65.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 2,482 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $141.39, for a total value of $350,929.98. Following the sale, the insider now owns 41,333 shares in the company, valued at $5,844,072.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 2,482 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $141.39, for a total value of $350,929.98. Following the sale, the insider now owns 41,333 shares in the company, valued at $5,844,072.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas B. Petno sold 4,930 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the sale, the chief executive officer now owns 277,161 shares in the company, valued at approximately $39,401,207.76. The disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock worth $19,858,275 over the last quarter. 0.79% of the stock is currently owned by company insiders.

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.