JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Scissortail Wealth Management LLC

Posted by Defense World Staff on Aug 8th, 2023

Scissortail Wealth Management LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 55.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,343 shares of the financial services provider’s stock after selling 34,347 shares during the period. Scissortail Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of JPM. Moneta Group Investment Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 105,652.2% in the 4th 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 period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $3,894,646,000. Price T Rowe Associates Inc. MD raised its position in shares of JPMorgan Chase & Co. by 71.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after buying an additional 12,654,947 shares during the period. Morgan Stanley increased its holdings in JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after purchasing an additional 8,088,433 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $556,791,000. 70.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 16,766 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 195,356 shares in the company, valued at approximately $26,373,060. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of JPMorgan Chase & Co. stock in a transaction dated 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 of the company’s stock, valued at approximately $6,083,461.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ashley Bacon sold 16,766 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.00, for a total value 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. 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. Price Performance

NYSE JPM opened at $156.76 on Tuesday. The stock has a market cap of $458.10 billion, a price-to-earnings ratio of 10.09, a PEG ratio of 2.05 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $101.28 and a 12 month high of $159.38. The company’s 50 day moving average is $146.36 and its two-hundred day moving average is $139.84. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.28.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping 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 business had revenue of $42.40 billion for the quarter, compared to analysts’ expectations of $38.66 billion. During the same quarter in the previous year, the company earned $2.76 EPS. The business’s quarterly revenue was up 34.1% compared to the same quarter last year. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 15.23 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on JPM. Bank of America raised their target price on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, April 17th. The Goldman Sachs Group raised their price objective on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price objective on the stock in a research report on Friday, July 7th. Citigroup lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Wednesday, July 12th. Finally, Credit Suisse Group lifted their price objective on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a research note on Monday, July 17th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $164.39.

View Our Latest Report on JPMorgan Chase & Co.

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.