Vicus Capital Acquires 4,769 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 30th, 2023

Vicus Capital increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 96.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 9,691 shares of the financial services provider’s stock after buying an additional 4,769 shares during the quarter. Vicus Capital’s holdings in JPMorgan Chase & Co. were worth $1,263,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of JPM. LSV Asset Management grew its stake in shares of JPMorgan Chase & Co. by 2.0% during the 1st quarter. LSV Asset Management now owns 851,570 shares of the financial services provider’s stock valued at $110,968,000 after purchasing an additional 16,320 shares during the period. Kiley Juergens Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. Kiley Juergens Wealth Management LLC now owns 13,546 shares of the financial services provider’s stock valued at $1,765,000 after purchasing an additional 351 shares during the period. TFG Advisers LLC grew its stake in shares of JPMorgan Chase & Co. by 1.0% during the 1st quarter. TFG Advisers LLC now owns 34,260 shares of the financial services provider’s stock valued at $4,464,000 after purchasing an additional 340 shares during the period. Maple Capital Management Inc. grew its stake in shares of JPMorgan Chase & Co. by 1.2% during the 1st quarter. Maple Capital Management Inc. now owns 186,313 shares of the financial services provider’s stock valued at $24,278,000 after purchasing an additional 2,263 shares during the period. Finally, Inscription Capital LLC grew its stake in shares of JPMorgan Chase & Co. by 25.7% during the 1st quarter. Inscription Capital LLC now owns 11,322 shares of the financial services provider’s stock valued at $1,475,000 after purchasing an additional 2,313 shares during the period. 70.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on JPM. Keefe, Bruyette & Woods boosted their price target 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. StockNews.com began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 18th. They set a “hold” rating for the company. Jefferies Financial Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their price target for the company from $149.00 to $165.00 in a research note on Tuesday, July 11th. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $174.00 to $180.00 in a research note on Monday, July 17th. Finally, Citigroup downgraded JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Wednesday, July 12th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.65.

JPMorgan Chase & Co. Stock Up 0.6 %

NYSE JPM opened at $156.91 on Friday. The stock’s 50 day moving average is $144.35 and its 200 day moving average is $139.28. 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 $158.79. The stock has a market cap of $458.54 billion, a PE ratio of 10.10, a P/E/G ratio of 2.05 and a beta of 1.10.

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 business had revenue of $42.40 billion for 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%. The company’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.76 EPS. Research analysts predict that JPMorgan Chase & Co. will post 15.23 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be issued 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 2.55%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.74%.

Insider Transactions at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 1,240 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the sale, the insider now directly owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Vice Chairman Peter Scher sold 1,240 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the transaction, the insider now owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ashley Bacon sold 16,766 shares of the business’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 transaction, the insider now directly owns 195,356 shares in the company, valued at approximately $26,373,060. The disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock valued at $19,858,275 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

(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.