JPMorgan Chase & Co. (NYSE:JPM) Stake Raised by Crown Wealth Group LLC

Posted by Defense World Staff on Jul 24th, 2023

Crown Wealth Group LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 87.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,766 shares of the financial services provider’s stock after acquiring an additional 2,230 shares during the period. JPMorgan Chase & Co. comprises about 0.5% of Crown Wealth Group LLC’s holdings, making the stock its 27th largest holding. Crown Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $621,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its position in JPMorgan Chase & Co. by 105,652.2% in 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 purchasing an additional 97,907,897 shares during the last quarter. Morgan Stanley increased its position in JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 valued at $6,859,512,000 after acquiring an additional 1,082,325 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $4,087,917,000 after acquiring an additional 12,654,947 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $3,894,646,000. 70.10% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $154.95 on Monday. The stock has a 50 day moving average of $142.38 and a two-hundred day moving average of $138.60. 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 12 month low of $101.28 and a 12 month high of $156.59. The company has a market capitalization 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.

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 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. The company had revenue of $42.40 billion during the quarter, compared to the consensus estimate of $38.66 billion. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The company’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter last year, the company earned $2.76 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 15.15 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend 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 (DPR) is presently 25.74%.

Insider Buying and Selling

In related news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction that occurred 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 owns 277,161 shares in the company, valued at approximately $39,401,207.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction that occurred 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 owns 566,665 shares in the company, valued at approximately $77,026,773.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The disclosure for this sale can be found here. Insiders sold 145,861 shares of company stock worth $19,858,275 in the last 90 days. 0.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on JPM shares. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Oppenheimer increased their price objective on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the company an “outperformer” rating in a report on Monday, April 17th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $158.00 to $168.00 in a report on Monday, July 17th. Barclays increased their price objective on JPMorgan Chase & Co. from $179.00 to $182.00 in a report on Sunday, July 16th. Finally, Bank of America raised their target price on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a report on Monday, April 17th. Six 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, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.65.

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.