Intech Investment Management LLC Sells 10,895 Shares of JPMorgan Chase & Co. (NYSE:JPM)

26 May 2024, 21:54 by Michael Walen · The Markets Daily

Intech Investment Management LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.5% during the 4th quarter, HoldingsChannel reports. The fund owned 304,465 shares of the financial services provider’s stock after selling 10,895 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of Intech Investment Management LLC’s portfolio, making the stock its 20th largest holding. Intech Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $51,789,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Curbstone Financial Management Corp boosted its holdings in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after acquiring an additional 60 shares during the period. Grey Street Capital LLC grew its holdings in JPMorgan Chase & Co. by 0.9% during the 4th quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock valued at $1,190,000 after purchasing an additional 60 shares in the last quarter. Financial Management Network Inc. increased its stake in JPMorgan Chase & Co. by 0.8% during the 4th quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock worth $1,296,000 after buying an additional 61 shares during the period. Sendero Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.1% in the 4th quarter. Sendero Wealth Management LLC now owns 5,811 shares of the financial services provider’s stock worth $988,000 after buying an additional 62 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its holdings in JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock worth $1,182,000 after buying an additional 64 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the transaction, the general counsel now owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robin Leopold sold 3,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $198.86, for a total transaction of $596,580.00. Following the completion of the sale, the insider now directly owns 44,113 shares in the company, valued at $8,772,311.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,399 shares of company stock valued at $46,713,667. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Up 1.9 %

Shares of JPM stock traded up $3.79 on Friday, hitting $200.71. 7,356,233 shares of the stock were exchanged, compared to its average volume of 8,712,340. The business has a 50-day moving average of $194.71 and a 200 day moving average of $178.29. JPMorgan Chase & Co. has a fifty-two week low of $134.40 and a fifty-two week high of $205.88. The firm has a market capitalization of $576.37 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 2.72 and a beta of 1.13. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The company had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. Equities analysts anticipate that JPMorgan Chase & Co. will post 16.32 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on JPM shares. Jefferies Financial Group raised their price target on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. UBS Group upped their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. BMO Capital Markets lowered their price target on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. Morgan Stanley lowered their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 21st. Finally, Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $194.10.

Get Our Latest Report on JPM

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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.