Allegheny Financial Group LTD Increases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Aug 8th, 2023

Allegheny Financial Group LTD increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,425 shares of the financial services provider’s stock after buying an additional 426 shares during the quarter. Allegheny Financial Group LTD’s holdings in JPMorgan Chase & Co. were worth $1,098,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Adirondack Retirement Specialists Inc. raised its position in JPMorgan Chase & Co. by 510.8% in the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 189 shares during the period. Nordwand Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter valued at $30,000. Boulder Wealth Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Capital Directions Investment Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $44,000. Finally, Aspire Private Capital LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $54,391,133,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.5 %

NYSE:JPM opened at $156.76 on Tuesday. The stock has a 50-day simple moving average of $146.36 and a 200-day simple moving average of $139.84. The stock has a market cap of $458.10 billion, a P/E ratio of 10.09, a P/E/G ratio of 2.05 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 company has a debt-to-equity ratio of 1.28, a quick ratio of 0.90 and a current ratio of 0.90.

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, beating the consensus estimate 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 the consensus estimate of $38.66 billion. During the same period in the previous year, the business earned $2.76 EPS. The business’s quarterly revenue was up 34.1% on a year-over-year basis. As a group, analysts anticipate that JPMorgan Chase & Co. will post 15.23 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is currently 25.74%.

Analyst Ratings Changes

JPM has been the topic of several research analyst reports. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a report on Friday, July 7th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $160.00 to $173.00 and gave the company an “overweight” rating in a report on Tuesday, July 18th. 888 reiterated a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 26th. Odeon Capital Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Finally, Bank of America boosted their price objective on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a report on Monday, April 17th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.39.

Get Our Latest Report on JPM

Insider Activity

In other news, Vice Chairman Peter Scher sold 2,482 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now directly owns 41,333 shares of the company’s stock, valued at approximately $5,844,072.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Vice Chairman Peter Scher sold 2,482 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now directly owns 41,333 shares of the company’s stock, valued at approximately $5,844,072.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Piepszak sold 1,871 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $140.70, for a total value of $263,249.70. Following the sale, the chief executive officer now directly owns 22,926 shares of the company’s stock, valued at $3,225,688.20. The disclosure for this sale can be found here. In the last three months, insiders sold 145,861 shares of company stock valued at $19,858,275. Insiders own 0.79% of the company’s stock.

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.