MBA Advisors LLC Sells 396 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Oct 10th, 2023

MBA Advisors LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the second quarter, HoldingsChannel reports. The fund owned 11,783 shares of the financial services provider’s stock after selling 396 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of MBA Advisors LLC’s investment portfolio, making the stock its 26th largest holding. MBA Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,714,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in JPM. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of JPMorgan Chase & Co. by 97,681.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,056,747,063 shares of the financial services provider’s stock valued at $299,133,293,000 after buying an additional 2,054,643,659 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 105,652.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after buying an additional 97,907,897 shares during the period. Morgan Stanley boosted its stake in shares of JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after buying an additional 8,088,433 shares during the period. Geode Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.1% in the first quarter. Geode Capital Management LLC now owns 52,310,456 shares of the financial services provider’s stock valued at $6,801,125,000 after buying an additional 1,061,831 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of JPMorgan Chase & Co. by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,769,523 shares of the financial services provider’s stock valued at $4,270,198,000 after buying an additional 2,285,429 shares during the period. Institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $144.77 on Tuesday. The company has a market capitalization of $420.71 billion, a price-to-earnings ratio of 9.32, a PEG 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. The stock has a fifty day simple moving average of $148.40 and a 200 day simple moving average of $143.00. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.28.

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 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.75. The business 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%. JPMorgan Chase & Co.’s quarterly revenue was up 34.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.76 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 15.68 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared 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. The ex-dividend date is Thursday, October 5th. This represents a $4.20 dividend on an annualized basis and a yield of 2.90%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio is 27.03%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on JPM shares. StockNews.com started coverage on JPMorgan Chase & Co. in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Oppenheimer lowered their price objective on shares of JPMorgan Chase & Co. from $219.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, September 26th. Societe Generale downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. 888 restated a “maintains” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 26th. Finally, Atlantic Securities boosted their price objective on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday, August 1st. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $168.26.

Read Our Latest Report on JPMorgan Chase & Co.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 transaction of $624,346.60. Following the sale, the general counsel now owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.