Patron Partners LLC Sells 102 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Aug 5th, 2023

Patron Partners LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,753 shares of the financial services provider’s stock after selling 102 shares during the quarter. Patron Partners LLC’s holdings in JPMorgan Chase & Co. were worth $359,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in JPM. Moneta Group Investment Advisors LLC increased its stake in JPMorgan Chase & Co. by 105,652.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after acquiring an additional 97,907,897 shares during the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $3,894,646,000. Price T Rowe Associates Inc. MD grew its stake in shares of JPMorgan Chase & Co. by 71.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock valued at $4,087,917,000 after buying an additional 12,654,947 shares during the last quarter. Morgan Stanley grew its stake in shares of JPMorgan Chase & Co. by 15.9% during the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after buying an additional 8,088,433 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $556,791,000. 70.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI cut their target price on JPMorgan Chase & Co. from $155.00 to $151.00 in a research note on Friday, May 12th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $160.00 to $173.00 and gave the company an “overweight” rating in a research note on Tuesday, July 18th. Citigroup cut JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Wednesday, July 12th. The Goldman Sachs Group upped their target price on JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Finally, Bank of America increased 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. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $164.39.

JPMorgan Chase & Co. Stock Down 0.2 %

JPMorgan Chase & Co. stock opened at $156.02 on Friday. The business has a fifty day moving average of $146.36 and a two-hundred day moving average of $139.83. 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 firm has a market cap of $455.94 billion, a P/E ratio of 10.04, a P/E/G ratio of 2.04 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $159.38.

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 for the quarter, topping analysts’ consensus estimates 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%. JPMorgan Chase & Co.’s revenue was up 34.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.76 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 15.23 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend 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

In other news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction 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 sale, the insider now owns 45,056 shares in the company, valued at approximately $6,083,461.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 566,665 shares in the company, valued at approximately $77,026,773.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $135.02, for a total value of $167,424.80. Following the sale, the insider now owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. 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. 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.