Whitaker Myers Wealth Managers LTD. Acquires 234 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Sep 25th, 2023

Whitaker Myers Wealth Managers LTD. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 13.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,014 shares of the financial services provider’s stock after purchasing an additional 234 shares during the period. Whitaker Myers Wealth Managers LTD.’s holdings in JPMorgan Chase & Co. were worth $293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of JPM. Waypoint Capital Advisors LLC grew its stake in JPMorgan Chase & Co. by 1.2% in the 2nd quarter. Waypoint Capital Advisors LLC now owns 6,612 shares of the financial services provider’s stock worth $962,000 after buying an additional 81 shares in the last quarter. Franklin Street Advisors Inc. NC grew its position in JPMorgan Chase & Co. by 16.7% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 193,093 shares of the financial services provider’s stock worth $28,083,000 after acquiring an additional 27,665 shares during the last quarter. Marcum Wealth LLC lifted its position in JPMorgan Chase & Co. by 2.1% in the second quarter. Marcum Wealth LLC now owns 35,361 shares of the financial services provider’s stock valued at $5,143,000 after purchasing an additional 730 shares during the last quarter. Hudson Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.9% during the second quarter. Hudson Capital Management LLC now owns 27,416 shares of the financial services provider’s stock valued at $3,987,000 after purchasing an additional 503 shares during the period. Finally, Prairie Sky Financial Group LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $1,052,000. Institutional investors own 68.94% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $157.16, for a total transaction of $677,359.60. Following the completion of the transaction, the general counsel now directly owns 57,735 shares of the company’s stock, valued at approximately $9,073,632.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a report on Monday, July 17th. 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 report 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 report on Tuesday, August 1st. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $173.00 to $179.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 12th. Finally, Societe Generale lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $167.21.

Check Out Our Latest Research Report on JPM

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $145.73 on Monday. The company has a market cap of $423.50 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. The stock’s 50 day simple moving average is $150.87 and its 200-day simple moving average is $141.81. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $159.38. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its earnings results 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 return on equity of 17.29% and a net margin of 23.45%. The company had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.66 billion. During the same quarter in the previous year, the business earned $2.76 earnings per share. The company’s revenue for the quarter was up 34.1% on a year-over-year basis. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 15.57 EPS for the current fiscal 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. The ex-dividend date of this dividend is Thursday, October 5th. 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%. JPMorgan Chase & Co.’s payout ratio is presently 25.74%.

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.