NorthCrest Asset Manangement LLC Sells 513 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Oct 11th, 2023

NorthCrest Asset Manangement LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,485 shares of the financial services provider’s stock after selling 513 shares during the period. JPMorgan Chase & Co. comprises about 1.6% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 5th largest position. NorthCrest Asset Manangement LLC’s holdings in JPMorgan Chase & Co. were worth $40,066,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of JPM. Adirondack Retirement Specialists Inc. raised its holdings in shares of JPMorgan Chase & Co. by 510.8% in the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 189 shares during the last quarter. Nordwand Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Boulder Wealth Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Sageworth Trust Co boosted its stake in shares of JPMorgan Chase & Co. by 266.7% during the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 296 shares during the last quarter. Finally, Freedom Wealth Alliance LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $60,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

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 on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent analyst reports. HSBC initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, September 7th. They issued a “hold” rating and a $159.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $158.00 price target on shares of JPMorgan Chase & Co. in a research note on Friday, September 8th. Societe Generale downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Credit Suisse Group raised their target price on shares of JPMorgan Chase & Co. from $160.00 to $170.00 in a research report on Monday, July 17th. Finally, Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a research note on Monday, July 17th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.47.

Get Our Latest Stock Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $145.67 on Wednesday. The company’s 50 day simple moving average is $148.17 and its 200 day simple moving average is $143.15. The stock has a market capitalization of $423.31 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. 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 released its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.75. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. During the same quarter in the previous year, the business earned $2.76 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 34.1% on a year-over-year basis. As a group, research analysts predict that JPMorgan Chase & Co. will post 15.68 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.88%. This is a positive change 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 payout ratio is presently 27.03%.

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.