Everhart Financial Group Inc. Boosts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Sep 24th, 2023

Everhart Financial Group Inc. increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,435 shares of the financial services provider’s stock after purchasing an additional 848 shares during the period. JPMorgan Chase & Co. accounts for 1.1% of Everhart Financial Group Inc.’s holdings, making the stock its 22nd biggest holding. Everhart Financial Group Inc.’s holdings in JPMorgan Chase & Co. were worth $2,681,000 as of its most recent SEC filing.

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

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $145.73 on Friday. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $159.38. The stock has a market capitalization of $423.50 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 1.89 and a beta of 1.11. The stock has a fifty day simple moving average of $150.87 and a two-hundred day simple moving average of $141.78. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.28.

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 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 analysts’ expectations of $38.66 billion. During the same period in the prior year, the business earned $2.76 EPS. 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 15.57 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on JPM shares. Credit Suisse Group boosted their target price on JPMorgan Chase & Co. from $160.00 to $170.00 in a research report on Monday, July 17th. Jefferies Financial Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their target price for the company from $149.00 to $165.00 in a research report on Tuesday, July 11th. Barclays boosted their target price on JPMorgan Chase & Co. from $179.00 to $182.00 in a research report on Sunday, July 16th. Citigroup downgraded JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Wednesday, July 12th. Finally, HSBC started coverage on JPMorgan Chase & Co. in a research report on Thursday, September 7th. They set a “hold” rating and a $159.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $167.21.

View Our Latest Stock Analysis on JPM

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by company 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.