Costello Asset Management INC Has $1.44 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Aug 9th, 2023

Costello Asset Management INC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,072 shares of the financial services provider’s stock after selling 667 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.5% of Costello Asset Management INC’s investment portfolio, making the stock its 19th biggest position. Costello Asset Management INC’s holdings in JPMorgan Chase & Co. were worth $1,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sculati Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 8.0% during the 1st quarter. Sculati Wealth Management LLC now owns 19,415 shares of the financial services provider’s stock worth $2,530,000 after purchasing an additional 1,446 shares in the last quarter. Mechanics Financial Corp grew its stake in JPMorgan Chase & Co. by 6.2% during the first quarter. Mechanics Financial Corp now owns 25,758 shares of the financial services provider’s stock worth $3,357,000 after buying an additional 1,500 shares in the last quarter. Allegheny Financial Group LTD increased its holdings in JPMorgan Chase & Co. by 5.3% in the 1st quarter. Allegheny Financial Group LTD now owns 8,425 shares of the financial services provider’s stock valued at $1,098,000 after buying an additional 426 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of JPMorgan Chase & Co. by 0.5% in the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 119,266 shares of the financial services provider’s stock valued at $15,541,000 after buying an additional 597 shares in the last quarter. Finally, Transatlantique Private Wealth LLC lifted its holdings in shares of JPMorgan Chase & Co. by 44.1% during the 1st quarter. Transatlantique Private Wealth LLC now owns 20,300 shares of the financial services provider’s stock worth $2,645,000 after acquiring an additional 6,209 shares during the period. 70.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on JPM. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a research report on Monday, July 17th. Atlantic Securities raised their price objective on JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research note on Friday, July 7th. Finally, 888 reissued a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 26th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $164.39.

Check Out Our Latest Research Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $155.88 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. The firm has a market cap of $453.00 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.06 and a beta of 1.10. The company’s fifty day simple moving average is $146.76 and its 200 day simple moving average is $140.00. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $42.40 billion for 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 firm’s revenue was up 34.1% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 15.23 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.74%.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s 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 sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The transaction was disclosed in a filing 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 the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the completion of the sale, the insider now owns 45,056 shares of the company’s stock, valued at $6,083,461.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel E. Pinto sold 113,640 shares of the company’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 transaction, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The disclosure for this sale can be found here. Insiders sold 150,171 shares of company stock worth $20,535,635 in the last quarter. 0.79% of the stock is owned by corporate insiders.

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.