Corundum Group Inc. Sells 3,593 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Oct 9th, 2023

Corundum Group Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 23.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,693 shares of the financial services provider’s stock after selling 3,593 shares during the quarter. JPMorgan Chase & Co. makes up about 0.8% of Corundum Group Inc.’s investment portfolio, making the stock its 24th largest position. Corundum Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,701,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Adirondack Retirement Specialists Inc. raised its position in 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 stake in shares of JPMorgan Chase & Co. during the first quarter worth $30,000. Boulder Wealth Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. Sageworth Trust Co raised its position in shares of JPMorgan Chase & Co. by 266.7% during the first quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 296 shares during the last quarter. Finally, Freedom Wealth Alliance LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $60,000. Institutional investors own 68.94% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the firm’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 value of $624,346.60. Following the completion of the transaction, the general counsel now directly owns 53,425 shares in the company, valued at $7,739,145.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday. They set a “hold” rating for the company. HSBC assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, September 7th. They set a “hold” rating and a $159.00 target price for the company. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $174.00 to $180.00 in a research report on Monday, July 17th. Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $219.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, September 26th. Finally, Societe Generale lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $168.26.

Get Our Latest Stock Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Stock Up 1.5 %

JPM stock opened at $145.10 on Monday. 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 business has a 50 day moving average price of $148.66 and a two-hundred day moving average price of $142.88. The company has a market cap of $421.67 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 1.85 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.75. The firm had revenue of $42.40 billion during the quarter, compared to the consensus estimate of $38.66 billion. JPMorgan Chase & Co. had a return on equity of 17.29% and a net margin of 23.45%. The business’s revenue was up 34.1% compared to the same quarter last year. During the same period last year, the company earned $2.76 earnings per share. Analysts anticipate that JPMorgan Chase & Co. will post 15.68 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.89%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Thursday, October 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.03%.

About JPMorgan Chase & Co.

(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.