JPMorgan Chase & Co. (NYSE:JPM) Stock Position Reduced by Congress Park Capital LLC

Posted by Defense World Staff on Sep 25th, 2023

Congress Park Capital LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,767 shares of the financial services provider’s stock after selling 1,411 shares during the quarter. JPMorgan Chase & Co. makes up about 2.1% of Congress Park Capital LLC’s holdings, making the stock its 10th biggest position. Congress Park Capital LLC’s holdings in JPMorgan Chase & Co. were worth $4,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. increased its position in JPMorgan Chase & Co. by 4.1% in the 2nd quarter. First Trust Direct Indexing L.P. now owns 60,345 shares of the financial services provider’s stock worth $8,777,000 after purchasing an additional 2,351 shares during the last quarter. Grey Street Capital LLC increased its holdings in JPMorgan Chase & Co. by 71.3% in the second quarter. Grey Street Capital LLC now owns 6,909 shares of the financial services provider’s stock worth $1,005,000 after buying an additional 2,875 shares during the last quarter. Transform Wealth LLC increased its holdings in JPMorgan Chase & Co. by 0.7% in the second quarter. Transform Wealth LLC now owns 123,953 shares of the financial services provider’s stock worth $18,028,000 after buying an additional 868 shares during the last quarter. Edge Wealth Management LLC raised its position in JPMorgan Chase & Co. by 2.3% during the second quarter. Edge Wealth Management LLC now owns 96,350 shares of the financial services provider’s stock valued at $14,013,000 after acquiring an additional 2,141 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its stake in JPMorgan Chase & Co. by 26.2% in the second quarter. Tectonic Advisors LLC now owns 4,957 shares of the financial services provider’s stock valued at $721,000 after acquiring an additional 1,030 shares during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. 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 sale, the general counsel now directly owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

JPM has been the topic of several analyst reports. Societe Generale lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Credit Suisse Group boosted their price target on JPMorgan Chase & Co. from $160.00 to $170.00 in a research report on Monday, July 17th. Barclays upped their price target on JPMorgan Chase & Co. from $179.00 to $182.00 in a research note on Sunday, July 16th. Citigroup downgraded JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research note on Wednesday, July 12th. Finally, Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 target price for the company in a research report on Friday, July 7th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.21.

Check Out Our Latest Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Trading Down 1.0 %

Shares of JPM opened at $145.73 on Monday. The stock’s 50-day moving average price is $150.87 and its 200 day moving average price is $141.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $423.50 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 1.87 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating 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%. JPMorgan Chase & Co.’s quarterly revenue was up 34.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.76 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 15.57 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be given 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 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Thursday, October 5th. JPMorgan Chase & Co.’s payout ratio is 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.