JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Acropolis Investment Management LLC

Posted by Defense World Staff on Sep 24th, 2023

Acropolis Investment Management LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,026 shares of the financial services provider’s stock after acquiring an additional 240 shares during the quarter. Acropolis Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,767,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Cantor Fitzgerald Investment Advisor L.P increased its stake in JPMorgan Chase & Co. by 81.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock worth $30,321,000 after acquiring an additional 99,636 shares during the last quarter. BCK Partners Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $2,455,000. LSV Asset Management grew its stake in shares of JPMorgan Chase & Co. by 35.6% in the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after buying an additional 9,800 shares in the last quarter. Wsfs Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 70.8% in the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after buying an additional 1,749 shares in the last quarter. Finally, Lumature Wealth Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 1,451.4% in the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after buying an additional 3,527 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. Credit Suisse Group increased their target price on JPMorgan Chase & Co. from $160.00 to $170.00 in a research note on Monday, July 17th. Piper Sandler increased their target price on JPMorgan Chase & Co. from $158.00 to $168.00 in a research note on Monday, July 17th. HSBC initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, September 7th. They issued a “hold” rating and a $159.00 target price for the company. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $174.00 to $180.00 in a research note on Monday, July 17th. Finally, Barclays raised their price objective on JPMorgan Chase & Co. from $179.00 to $182.00 in a research note on Sunday, July 16th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $167.21.

Check Out Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Stock Down 1.0 %

Shares of JPM stock opened at $145.73 on Friday. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $159.38. The stock has a market cap of $423.50 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11. The business’s fifty day moving average is $150.87 and its 200-day moving average is $141.78. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.90 and a current ratio of 0.90.

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 for 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%. The company’s quarterly revenue was up 34.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.76 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 15.57 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.88%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, October 5th. JPMorgan Chase & Co.’s payout ratio is presently 25.74%.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total value of $624,346.60. Following the transaction, the general counsel now directly owns 53,425 shares in the company, valued at approximately $7,739,145.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. 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.