JPMorgan Chase & Co. (NYSE:JPM) Holdings Boosted by Perkins Coie Trust Co

Posted by Defense World Staff on Sep 25th, 2023

Perkins Coie Trust Co boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 285.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,110 shares of the financial services provider’s stock after acquiring an additional 7,490 shares during the period. Perkins Coie Trust Co’s holdings in JPMorgan Chase & Co. were worth $1,470,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P raised its holdings in shares of JPMorgan Chase & Co. by 81.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after buying an additional 99,636 shares during the last quarter. BCK Partners Inc. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $2,455,000. LSV Asset Management raised its holdings in shares of JPMorgan Chase & Co. by 35.6% during the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after buying an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 70.8% during the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after buying an additional 1,749 shares during the last quarter. Finally, Lumature Wealth Partners LLC raised its holdings in shares of JPMorgan Chase & Co. by 1,451.4% during the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after buying an additional 3,527 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 4,310 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $157.16, for a total transaction of $677,359.60. Following the transaction, the general counsel now owns 57,735 shares in the company, valued at approximately $9,073,632.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.0 %

JPMorgan Chase & Co. stock opened at $145.73 on Monday. The firm has a market cap 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. 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. has a fifty-two week low of $101.28 and a fifty-two week high of $159.38. The firm has a fifty day moving average price of $150.87 and a two-hundred day moving average price of $141.81.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share 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 net margin of 23.45% and a return on equity of 17.29%. The business’s revenue was up 34.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.76 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 15.57 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders 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. The ex-dividend date is Thursday, October 5th. This represents a $4.20 dividend on an annualized basis and a yield of 2.88%. JPMorgan Chase & Co.’s payout ratio is currently 25.74%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Oppenheimer dropped their target price on JPMorgan Chase & Co. from $227.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday, August 18th. Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $174.00 to $180.00 in a report on Monday, July 17th. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $173.00 to $179.00 and gave the stock an “overweight” rating in a report on Tuesday, September 12th. Finally, HSBC assumed coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, September 7th. They issued a “hold” rating and a $159.00 price target on the stock. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.21.

Get Our Latest Report on JPMorgan Chase & Co.

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.