JPMorgan Chase & Co. (NYSE:JPM) Stock Position Raised by Assetmark Inc.

Posted by Defense World Staff on Aug 9th, 2023

Assetmark Inc. lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 13.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 108,535 shares of the financial services provider’s stock after buying an additional 12,681 shares during the quarter. Assetmark Inc.’s holdings in JPMorgan Chase & Co. were worth $14,143,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Sculati Wealth Management LLC increased its position in JPMorgan Chase & Co. by 8.0% during the first quarter. Sculati Wealth Management LLC now owns 19,415 shares of the financial services provider’s stock worth $2,530,000 after buying an additional 1,446 shares during the last quarter. Mechanics Financial Corp raised its stake in shares of JPMorgan Chase & Co. by 6.2% in the 1st quarter. Mechanics Financial Corp now owns 25,758 shares of the financial services provider’s stock valued at $3,357,000 after acquiring an additional 1,500 shares in the last quarter. Allegheny Financial Group LTD raised its stake in shares of 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 acquiring an additional 426 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in 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 worth $15,541,000 after purchasing an additional 597 shares during the last quarter. Finally, Transatlantique Private Wealth LLC boosted its position in JPMorgan Chase & Co. by 44.1% during the first quarter. Transatlantique Private Wealth LLC now owns 20,300 shares of the financial services provider’s stock worth $2,645,000 after purchasing an additional 6,209 shares during the period. Institutional investors and hedge funds own 70.10% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $174.00 to $180.00 in a report on Monday, July 17th. 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 research note on Friday, July 7th. Bank of America increased 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. Finally, The Goldman Sachs Group raised their target price on JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday, April 14th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.39.

Read Our Latest Report on JPMorgan Chase & Co.

Insider Activity

In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s 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 directly owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ashley Bacon sold 16,766 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.00, for a total value of $2,263,410.00. Following the completion of the transaction, the insider now owns 195,356 shares in the company, valued at approximately $26,373,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel E. Pinto sold 113,640 shares of the 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 transaction, the chief executive officer now owns 566,665 shares in the company, valued at $77,026,773.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,171 shares of company stock worth $20,535,635. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $155.88 on Wednesday. The stock has a market cap of $453.00 billion, a P/E ratio of 10.03, a PEG ratio of 2.06 and a beta of 1.10. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $159.38. The company’s 50-day simple moving average is $146.76 and its 200 day simple moving average is $140.00.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. The business had revenue of $42.40 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 34.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.76 EPS. As a group, research analysts forecast that JPMorgan Chase & Co. will post 15.23 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

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.