Beacon Investment Advisory Services Inc. Sells 7,384 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Aug 5th, 2023

Beacon Investment Advisory Services Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 2.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 285,174 shares of the financial services provider’s stock after selling 7,384 shares during the quarter. JPMorgan Chase & Co. makes up 1.8% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 15th largest holding. Beacon Investment Advisory Services Inc.’s holdings in JPMorgan Chase & Co. were worth $37,161,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Howard Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.5% during the first quarter. Howard Wealth Management LLC now owns 3,062 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 75 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 4.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 905,097 shares of the financial services provider’s stock valued at $117,395,000 after acquiring an additional 35,768 shares during the period. Clear Harbor Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 94.4% during the first quarter. Clear Harbor Asset Management LLC now owns 102,090 shares of the financial services provider’s stock valued at $13,303,000 after acquiring an additional 49,567 shares during the period. Vista Wealth Management Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 432.4% during the first quarter. Vista Wealth Management Group LLC now owns 16,579 shares of the financial services provider’s stock valued at $2,160,000 after acquiring an additional 13,465 shares during the period. Finally, EFG Asset Management Americas Corp. lifted its holdings in shares of JPMorgan Chase & Co. by 7.0% during the first quarter. EFG Asset Management Americas Corp. now owns 53,717 shares of the financial services provider’s stock valued at $7,000,000 after acquiring an additional 3,526 shares during the period. 70.10% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $156.02 on Friday. The firm has a market capitalization of $455.94 billion, a P/E ratio of 10.04, a PEG ratio of 2.04 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $159.38. The business has a 50-day moving average of $146.36 and a 200-day moving average of $139.83. 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. (NYSE:JPM – Get Free Report) last posted its 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 company had revenue of $42.40 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.76 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 15.23 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 6th were given a $1.00 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.56%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.74%.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 completion of the transaction, the insider now owns 195,356 shares of the company’s stock, valued at $26,373,060. The disclosure for this sale can be found here. In the last three months, insiders sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Odeon Capital Group raised 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 JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a report on Monday, April 17th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $174.00 to $180.00 in a report on Monday, July 17th. Finally, Piper Sandler lifted their price target on JPMorgan Chase & Co. from $158.00 to $168.00 in a report on Monday, July 17th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.39.

JPMorgan Chase & Co. Company 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.