Redhawk Wealth Advisors Inc. Has $1.66 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Sep 24th, 2023

Redhawk Wealth Advisors Inc. raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 26.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,414 shares of the financial services provider’s stock after acquiring an additional 2,376 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $1,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Adirondack Retirement Specialists Inc. increased its stake in shares of JPMorgan Chase & Co. by 510.8% in the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 189 shares during the last quarter. Nordwand Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Boulder Wealth Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Sageworth Trust Co increased its stake in shares of JPMorgan Chase & Co. by 266.7% in the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 296 shares during the last quarter. Finally, Aspire Private Capital LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $54,391,133,000. 68.94% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 1.0 %

JPM stock opened at $145.73 on Friday. The stock’s 50 day simple moving average is $150.87 and its 200 day simple moving average is $141.78. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $159.38. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $423.50 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. The firm had revenue of $42.40 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 34.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.76 EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be issued a dividend of $1.05 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, October 5th. JPMorgan Chase & Co.’s payout ratio is currently 25.74%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on JPM shares. HSBC initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, September 7th. They set a “hold” rating and a $159.00 price objective on the stock. StockNews.com initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Jefferies Financial Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $165.00 in a research report on Tuesday, July 11th. Barclays upped their price target on JPMorgan Chase & Co. from $179.00 to $182.00 in a research report on Sunday, July 16th. Finally, Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $174.00 to $180.00 in a research note on Monday, July 17th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.21.

Get Our Latest Stock Report on JPMorgan Chase & Co.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,739,145.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.