On September 18, 2023, it was reported that &OneAscent Wealth Management LLC has acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, as stated in their recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor obtained 3,669 shares of JPM’s stock, valued at approximately $534,000.
In line with this news, General Counsel Stacey Friedman also made headlines by selling 4,310 shares of JPMorgan Chase & Co. stock on Wednesday, September 6th. The average price per share in the transaction was $144.86, resulting in a total value of $624,346.60. Following the sale, Friedman now holds 53,425 shares of the company’s stock with an estimated value of $7,739,145.50.
This transaction was appropriately disclosed in a legal filing with the SEC and can be accessed through the provided hyperlink for further details. It is worth noting that insiders currently possess 0.79% ownership of JPMorgan Chase & Co., indicating ongoing activity within the company’s internal structure.
JPMorgan Chase & Co., one of the world’s leading financial services providers and an established name within the industry, continues to attract attention from institutional investors such as &OneAscent Wealth Management LLC due to its strong market presence and potential growth opportunities.
While these developments provide insights into recent activities surrounding JPMorgan Chase & Co., investors are urged to conduct further research before making any investment decisions. Financial markets are known for their dynamic nature and can experience fluctuations influenced by various factors such as economic conditions or regulatory changes.
It is essential for both individual and institutional investors to stay informed about important developments within their chosen investment portfolios in order to make well-informed decisions based on reliable information.
Institutional Investors and Analysts Remain Positive on JPMorgan Chase & Co. Despite Market Volatility
Institutional investors and hedge funds have made significant moves in regards to their holdings in JPMorgan Chase & Co., one of the leading financial services providers. For example, Crew Capital Management Ltd. increased its stake by 7.2% during the first quarter, now owning 6,286 shares worth $819,000. Similarly, Migdal Insurance & Financial Holdings Ltd. raised its holdings by 46.4%, acquiring an additional 13,792 shares valued at $5.6 million.
CHURCHILL MANAGEMENT Corp also boosted its holdings in JPMorgan Chase & Co., adding 984 more shares to their portfolio, while Janney Montgomery Scott LLC saw a 1.5% increase in their ownership with an additional 26,285 shares acquired during the same period.
Athena Investment Management, on the other hand, experienced a more modest growth of 0.9%, purchasing an extra 244 shares worth $3.8 million during the fourth quarter.
These actions by institutional investors and hedge funds resulted in them collectively owning approximately 68.94% of JPMorgan Chase & Co.’s stock.
As for research analysts’ opinions on JPM’s future prospects, there have been several notable comments recently. Barclays raised their price target from $179 to $182 for JPMorgan Chase & Co., while Royal Bank of Canada reaffirmed an “outperform” rating with a price target of $158 per share.
However, Societe Generale downgraded their rating from “buy” to “hold”, and Atlantic Securities increased their target price from $150 to $160 with a “neutral” rating. In total, eight analysts maintained a hold rating and twelve issued a buy rating for JPMorgan Chase & Co., resulting in an average consensus rating of “Moderate Buy” and an average target price of $167.21 according to Bloomberg.com data.
On September 18, 2023, JPMorgan Chase & Co. opened at $148.81 on the New York Stock Exchange (NYSE), with a market capitalization of $432.45 billion. The company has a price-to-earnings ratio of 9.58 and a price-to-earnings growth ratio of 1.88, along with a beta of 1.11.
Over the past fifty days, JPMorgan Chase & Co.’s stock had been trading at an average price of $150.88, while the two-hundred-day moving average was $141.59.
JPMorgan Chase & Co.’s one-year low stood at $101.28 and its one-year high reached $159.38 for the mentioned period.
For Q2 earnings in 2023, JPMorgan Chase & Co. reported $4.37 earnings per share, surpassing the consensus estimate of $3.62 by $0.75 per share. The company’s revenue for the quarter was recorded at $42.40 billion, exceeding analysts’ expectations of $38.66 billion.
With a net margin of 23.45% and a return on equity of 17.29%, JPMorgan Chase & Co.’s quarterly revenue increased by an impressive 34.1% compared to the previous year’s quarter when the company reported earnings per share of $2.
76.
Overall, industry analysts predict that JPMorgan Chase & Co.’s earnings per share for this year will amount to approximately 15.
58 EPS.
In summary, institutional investors and analytical insights showcase a mix of positivity surrounding JPMorgan Chase & Co., with significant increases in holdings from key investors and positive ratings from multiple research analyst firms indicating confidence in the company’s future performance despite its perplexingly high debt-to-equity ratio and recent market volatility.
Source: beststocks.com
