Exchange Capital Management Inc. Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Jul 31st, 2023

Exchange Capital Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,499 shares of the financial services provider’s stock after purchasing an additional 824 shares during the quarter. Exchange Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $4,756,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Adirondack Retirement Specialists Inc. increased its stake in JPMorgan Chase & Co. by 510.8% during the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after buying an additional 189 shares in the last quarter. Boulder Wealth Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $43,000. Capital Directions Investment Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $44,000. VitalStone Financial LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $58,000. Finally, Freedom Wealth Alliance LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $60,000. 70.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Societe Generale cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Friday, July 7th. Oppenheimer boosted their target price on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a report on Monday, April 17th. 888 reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 26th. Finally, Bank of America boosted their price objective on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.65.

Insider Activity

In other news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction dated 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 directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Ashley Bacon sold 16,766 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 15th. The shares were sold at an average price of $135.00, for a total transaction of $2,263,410.00. Following the completion of the sale, the insider now directly owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the completion of the transaction, the chief executive officer now directly owns 566,665 shares in the company, valued at approximately $77,026,773.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.6 %

NYSE JPM opened at $156.91 on Monday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.85 and a current ratio of 0.90. The firm has a market cap of $458.54 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 2.06 and a beta of 1.10. The firm has a 50 day simple moving average of $144.35 and a 200-day simple moving average of $139.28. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $158.79.

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 EPS for the quarter, beating the consensus estimate of $3.62 by $0.75. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The company had revenue of $42.40 billion during the quarter, compared to analysts’ expectations of $38.66 billion. During the same quarter last year, the company posted $2.76 EPS. The firm’s revenue was up 34.1% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 15.23 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 annualized dividend and a yield of 2.55%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.74%.

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.