Sunbelt Securities Inc. Acquires 2,430 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Sep 13th, 2023

Sunbelt Securities Inc. grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 9.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,087 shares of the financial services provider’s stock after buying an additional 2,430 shares during the period. Sunbelt Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $3,616,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JPM. Cantor Fitzgerald Investment Advisor L.P raised its position in JPMorgan Chase & Co. by 81.1% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock worth $30,321,000 after buying an additional 99,636 shares during the last quarter. BCK Partners Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth about $2,455,000. LSV Asset Management increased its position in shares of JPMorgan Chase & Co. by 35.6% during the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after purchasing an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 70.8% during the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 1,749 shares during the last quarter. Finally, Lumature Wealth Partners LLC increased its position in shares of JPMorgan Chase & Co. by 1,451.4% during the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 3,527 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the sale, the chief executive officer now owns 277,161 shares in the company, valued at $39,401,207.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider now owns 41,333 shares in the company, valued at approximately $5,844,072.87. The disclosure for this sale can be found here. Insiders sold 16,032 shares of company stock worth $2,353,485 over the last three months. 0.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

JPM has been the subject of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $158.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Jefferies Financial Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $165.00 in a research note on Tuesday, July 11th. Citigroup cut shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Wednesday, July 12th. Atlantic Securities raised their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Finally, StockNews.com began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.21.

Get Our Latest Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Stock Up 1.3 %

NYSE JPM opened at $146.34 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 has a fifty day moving average of $150.63 and a two-hundred day moving average of $141.47. The firm has a market capitalization of $425.28 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 1.84 and a beta of 1.11. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, topping 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 last year, the company earned $2.76 earnings per share. The business’s revenue for the quarter was up 34.1% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 15.58 earnings per share for the current year.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.