Valmark Advisers Inc. Boosts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 27th, 2023

Valmark Advisers Inc. raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,511 shares of the financial services provider’s stock after purchasing an additional 1,266 shares during the quarter. Valmark Advisers Inc.’s holdings in JPMorgan Chase & Co. were worth $3,585,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Ieq Capital LLC increased its stake in JPMorgan Chase & Co. by 2.4% during the 1st quarter. Ieq Capital LLC now owns 218,943 shares of the financial services provider’s stock valued at $28,531,000 after purchasing an additional 5,104 shares in the last quarter. Shepherd Financial Partners LLC increased its stake in JPMorgan Chase & Co. by 1.4% during the 1st quarter. Shepherd Financial Partners LLC now owns 40,879 shares of the financial services provider’s stock valued at $5,327,000 after purchasing an additional 548 shares in the last quarter. Udine Wealth Management Inc. increased its stake in JPMorgan Chase & Co. by 3.5% during the 1st quarter. Udine Wealth Management Inc. now owns 39,342 shares of the financial services provider’s stock valued at $5,127,000 after purchasing an additional 1,341 shares in the last quarter. Meridian Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 4.6% in the first quarter. Meridian Wealth Advisors LLC now owns 50,192 shares of the financial services provider’s stock worth $6,541,000 after acquiring an additional 2,198 shares during the period. Finally, Braun Bostich & Associates Inc. increased its stake in shares of JPMorgan Chase & Co. by 50.2% in the first quarter. Braun Bostich & Associates Inc. now owns 3,094 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 1,034 shares during the period. Institutional investors and hedge funds own 70.10% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $157.74 on Thursday. 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 company has a market cap of $460.96 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 2.09 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $158.79. The firm’s fifty day simple moving average is $142.83 and its two-hundred day simple moving average is $138.76.

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 for the quarter, topping the consensus estimate of $3.62 by $0.75. The firm had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The company’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same period last year, the firm posted $2.76 earnings per share. Equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.74%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a research note on Monday, July 17th. The Goldman Sachs Group increased their price objective on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $179.00 to $182.00 in a research note on Sunday, July 16th. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Oppenheimer increased their price target on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a report 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.65.

Insider Buying and Selling

In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of JPMorgan Chase & Co. stock in a transaction dated 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 directly owns 45,056 shares in the company, valued at $6,083,461.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,861 shares of company stock worth $19,858,275. 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.

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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