JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Fortitude Advisory Group L.L.C.

Posted by Defense World Staff on Aug 9th, 2023

Fortitude Advisory Group L.L.C. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 8.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,990 shares of the financial services provider’s stock after selling 709 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.8% of Fortitude Advisory Group L.L.C.’s holdings, making the stock its 22nd largest position. Fortitude Advisory Group L.L.C.’s holdings in JPMorgan Chase & Co. were worth $1,041,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its stake 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 buying an additional 97,907,897 shares in the last quarter. Morgan Stanley grew its holdings in 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 worth $7,918,506,000 after acquiring an additional 8,088,433 shares during the period. Geode Capital Management LLC raised its position in JPMorgan Chase & Co. by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock worth $6,859,512,000 after acquiring an additional 1,082,325 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $4,087,917,000 after acquiring an additional 12,654,947 shares during the last quarter. Finally, Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $3,894,646,000. 70.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $157.16, for a total transaction of $677,359.60. Following the transaction, the general counsel now owns 57,735 shares in the company, valued at approximately $9,073,632.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Douglas B. Petno sold 4,932 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $134.90, for a total transaction of $665,326.80. Following the completion of the transaction, the chief executive officer now owns 282,091 shares in the company, valued at approximately $38,054,075.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $157.16, for a total transaction of $677,359.60. Following the sale, the general counsel now owns 57,735 shares of the company’s stock, valued at approximately $9,073,632.60. The disclosure for this sale can be found here. Insiders sold a total of 150,171 shares of company stock worth $20,535,635 in the last ninety days. 0.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JPM. Jefferies Financial Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $149.00 to $165.00 in a report on Tuesday, July 11th. The Goldman Sachs Group increased their price objective on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Bank of America raised 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. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $160.00 to $173.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 18th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Friday, July 7th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.39.

Check Out Our Latest Stock Report on JPM

JPMorgan Chase & Co. Trading Down 0.6 %

NYSE:JPM 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 company’s 50 day moving average is $146.76 and its 200-day moving average is $140.00. The firm has a market cap of $453.00 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 2.06 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.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results 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 net margin of 23.45% and a return on equity of 17.29%. The company had revenue of $42.40 billion during the quarter, compared to analysts’ expectations of $38.66 billion. During the same period in the prior year, the company earned $2.76 earnings per share. The business’s quarterly revenue was up 34.1% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 15.23 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

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.