Cardinal Strategic Wealth Guidance reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,660 shares of the financial services provider’s stock after selling 350 shares during the period. Cardinal Strategic Wealth Guidance’s holdings in JPMorgan Chase & Co. were worth $778,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Joseph Group Capital Management purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $1,353,000. Carolina Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 176.5% during the fourth quarter. Carolina Wealth Advisors LLC now owns 235 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 150 shares in the last quarter. Evolution Advisers Inc. purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $52,000. Leverty Financial Group LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $54,000. Finally, Delos Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 13,433.3% in the fourth quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 403 shares during the last quarter. 70.35% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider Ashley Bacon sold 21,012 shares of the stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $130.04, for a total value of $2,732,400.48. Following the completion of the transaction, the insider now owns 178,588 shares in the company, valued at approximately $23,223,583.52. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.79% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on JPM shares. Piper Sandler reduced their target price on shares of JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Morgan Stanley reduced their target price on shares of JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating for the company in a research note on Tuesday. BMO Capital Markets lifted their target price on shares of JPMorgan Chase & Co. from $150.00 to $156.00 in a research note on Tuesday, May 24th. The Goldman Sachs Group set a $151.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Thursday, April 14th. Finally, Societe Generale upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $150.00 in a research note on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $143.95.
JPMorgan Chase & Co. Price Performance
Shares of JPMorgan Chase & Co. stock opened at $112.95 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.82 and a quick ratio of 0.82. JPMorgan Chase & Co. has a fifty-two week low of $106.06 and a fifty-two week high of $172.96. The firm has a fifty day moving average price of $119.34 and a two-hundred day moving average price of $134.51. The company has a market cap of $331.74 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings results on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.76. JPMorgan Chase & Co. had a net margin of 33.61% and a return on equity of 16.58%. The firm had revenue of $30.72 billion during the quarter, compared to the consensus estimate of $31.82 billion. During the same period in the prior year, the firm earned $3.78 EPS. The business’s revenue was up .8% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 11.37 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Tuesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is 29.67%.
JPMorgan Chase & Co. Company Profile
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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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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