Herbst Group LLC Acquires 435 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 24th, 2023

Herbst Group LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,685 shares of the financial services provider’s stock after buying an additional 435 shares during the quarter. Herbst Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Financial Solutions LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $26,000. Adirondack Retirement Specialists Inc. lifted its stake in JPMorgan Chase & Co. by 510.8% in the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 189 shares during the last quarter. Boulder Wealth Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Capital Directions Investment Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $44,000. Finally, VitalStone Financial LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $58,000. 70.10% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.02, for a total transaction 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 16,766 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were 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 $26,373,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the sale, 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 90 days, insiders have sold 145,861 shares of company stock worth $19,858,275. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $154.95 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.85 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $452.81 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 2.05 and a beta of 1.10. The firm’s 50 day simple moving average is $142.38 and its 200 day simple moving average is $138.60. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $156.59.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results 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 business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The firm’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same quarter last year, the business posted $2.76 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 15.15 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared 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 is 25.74%.

Analyst Ratings Changes

JPM has been the subject of several recent analyst reports. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, April 17th. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $174.00 to $180.00 in a report on Monday, July 17th. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Credit Suisse Group increased their price target on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a report on Monday, July 17th. Finally, Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a report on Monday, July 17th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average 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.