JPMorgan Chase & Co. (NYSE:JPM) is Signature Wealth Management Partners LLC’s 9th Largest Position

Posted by Defense World Staff on Jul 30th, 2023

Signature Wealth Management Partners LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 10.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,259 shares of the financial services provider’s stock after selling 2,136 shares during the quarter. JPMorgan Chase & Co. makes up about 2.3% of Signature Wealth Management Partners LLC’s holdings, making the stock its 9th biggest holding. Signature Wealth Management Partners LLC’s holdings in JPMorgan Chase & Co. were worth $2,510,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in JPM. Twin Lakes Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.5% in the 4th quarter. Twin Lakes Capital Management LLC now owns 13,786 shares of the financial services provider’s stock valued at $1,849,000 after buying an additional 71 shares during the last quarter. Karpas Strategies LLC grew its position in JPMorgan Chase & Co. by 0.3% in the 4th 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 during the last quarter. Oxler Private Wealth LLC grew its position in JPMorgan Chase & Co. by 0.9% in the 4th 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 during the last quarter. Sanford Advisory Services LLC grew its position in JPMorgan Chase & Co. by 2.4% in the 4th 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 during the last quarter. Finally, Gould Asset Management LLC CA grew its position in JPMorgan Chase & Co. by 1.2% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 16,766 shares of JPMorgan Chase & Co. 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 owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 completion of the transaction, 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 filing with the SEC, which is available at this link. Also, insider Ashley Bacon sold 16,766 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.00, for a total transaction of $2,263,410.00. Following the sale, the insider now directly owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The disclosure for this sale can be found here. Over the last quarter, insiders sold 145,861 shares of company stock worth $19,858,275. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.6 %

Shares of JPMorgan Chase & Co. stock opened at $156.91 on Friday. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $158.79. The company’s 50 day moving average is $144.35 and its 200 day moving average is $139.28. 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 $458.54 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 2.05 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The business had revenue of $42.40 billion during the quarter, compared to analyst estimates of $38.66 billion. During the same quarter in the prior year, the business posted $2.76 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 34.1% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 15.23 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. Stockholders of record on Thursday, July 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.74%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JPM. Evercore ISI decreased their price target on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. Societe Generale downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. Finally, BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.65.

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.