9. INDUSTRY, INNOVATION, AND INFRASTRUCTURE

Northwest Investment Counselors LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM) – Defense World

Written by Amanda

Northwest Investment Counselors LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,620 shares of the financial services provider’s stock after selling 331 shares during the quarter. Northwest Investment Counselors LLC’s holdings in JPMorgan Chase & Co. were worth $494,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Lowe Wealth Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 230.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 165 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 115 shares during the period. Carolina Wealth Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 176.5% in 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 during the period. Evolution Advisers Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $52,000. Leverty Financial Group LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $54,000. Finally, Delos Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 403 shares during the period. 70.35% of the stock is owned by institutional investors.

JPM has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $148.00 target price (up previously from $142.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 24th. Morgan Stanley reduced their target price on JPMorgan Chase & Co. from $152.00 to $149.00 and set an “underweight” rating on the stock in a report on Friday, June 24th. Jefferies Financial Group lifted their target price on JPMorgan Chase & Co. from $125.00 to $137.00 in a report on Tuesday, May 24th. Royal Bank of Canada set a $175.00 target price on JPMorgan Chase & Co. and gave the company an “outperform” rating in a report on Thursday, April 14th. Finally, Piper Sandler lifted their target price on JPMorgan Chase & Co. from $165.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $161.67.

Shares of NYSE:JPM opened at $112.61 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.16. JPMorgan Chase & Co. has a 52-week low of $110.93 and a 52-week high of $172.96. The company has a 50 day moving average of $121.71 and a two-hundred day moving average of $137.93. The company has a market capitalization of $330.74 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 2.09 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last released its quarterly earnings results on Wednesday, April 13th. The financial services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.73 by ($0.10). JPMorgan Chase & Co. had a return on equity of 16.58% and a net margin of 33.61%. The company had revenue of $30.72 billion for the quarter, compared to analyst estimates of $30.53 billion. During the same period in the previous year, the business posted $4.50 EPS. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 11.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Tuesday, July 5th. JPMorgan Chase & Co.’s payout ratio is currently 29.67%.

In other news, CEO Jennifer Piepszak sold 4,668 shares of the firm’s stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $126.19, for a total transaction of $589,054.92. Following the completion of the sale, the chief executive officer now owns 11,135 shares of the company’s stock, valued at $1,405,125.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ashley Bacon sold 21,012 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the sale, the insider now directly owns 178,588 shares of the company’s stock, valued at approximately $23,223,583.52. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Profile (Get Rating)

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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Source: defenseworld.net

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai