Capital Investment Advisory Services LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Oct 23rd, 2023

Capital Investment Advisory Services LLC decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,954 shares of the financial services provider’s stock after selling 713 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in JPMorgan Chase & Co. were worth $3,775,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich increased its position 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 in the last quarter. Moneta Group Investment Advisors LLC increased its position 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 in the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $3,894,646,000. Morgan Stanley increased its position 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 in the last quarter. Finally, Providence Capital Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 13,205.6% in the first quarter. Providence Capital Advisors LLC now owns 5,395,818 shares of the financial services provider’s stock valued at $41,407,000 after buying an additional 5,355,265 shares in the last quarter. Hedge funds and other institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $142.95 on Monday. The business’s 50-day simple moving average is $146.71 and its 200-day simple moving average is $144.12. The firm has a market capitalization of $415.42 billion, a P/E ratio of 8.53, a P/E/G ratio of 1.75 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. JPMorgan Chase & Co. has a 1-year low of $116.33 and a 1-year high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, topping the consensus estimate of $3.95 by $0.38. The firm had revenue of $40.69 billion for the quarter, compared to analyst estimates of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. JPMorgan Chase & Co.’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.12 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 16.31 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be issued a dividend of $1.05 per share. The ex-dividend date of this dividend is Thursday, October 5th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 2.94%. JPMorgan Chase & Co.’s payout ratio is currently 25.07%.

Insiders Place Their Bets

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 in the company, valued at approximately $7,739,145.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.79% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research analyst reports. Oppenheimer raised their price target on JPMorgan Chase & Co. from $215.00 to $233.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. 888 reiterated a “maintains” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 26th. Citigroup cut JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Wednesday, July 12th. Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Finally, Barclays lifted their price objective on JPMorgan Chase & Co. from $179.00 to $182.00 in a research report on Sunday, July 16th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.79.

Check Out Our Latest Research Report on JPM

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.