Phoenix Wealth Advisors Sells 198 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Sep 24th, 2023

Phoenix Wealth Advisors lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,313 shares of the financial services provider’s stock after selling 198 shares during the period. JPMorgan Chase & Co. comprises about 1.8% of Phoenix Wealth Advisors’ portfolio, making the stock its 12th largest holding. Phoenix Wealth Advisors’ holdings in JPMorgan Chase & Co. were worth $3,100,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Adirondack Retirement Specialists Inc. grew its position in JPMorgan Chase & Co. by 510.8% in the first 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 in the last quarter. Nordwand Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Boulder Wealth Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Sageworth Trust Co boosted its holdings in shares of JPMorgan Chase & Co. by 266.7% during the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after buying an additional 296 shares during the period. Finally, Aspire Private Capital LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $54,391,133,000. Institutional investors own 68.94% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. Citigroup downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Wednesday, July 12th. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $179.00 to $182.00 in a research report on Sunday, July 16th. 888 restated a “maintains” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 26th. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a research report on Monday, July 17th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.21.

View Our Latest Stock Report on JPM

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the sale, the general counsel now directly owns 53,425 shares of the company’s stock, valued at approximately $7,739,145.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.0 %

NYSE:JPM opened at $145.73 on Friday. The firm’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. has a 52 week low of $101.28 and a 52 week high of $159.38. The firm has a market cap of $423.50 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.89 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.75. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The company had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. During the same period in the prior year, the firm posted $2.76 EPS. The company’s quarterly revenue was up 34.1% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 15.57 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be paid a $1.05 dividend. 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 dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.74%.

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.