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Adams Diversified Equity Fund Inc. Sells 65,800 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Defense World · Jul 18, 2022 07:31

Adams Diversified Equity Fund Inc. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 34.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 124,700 shares of the financial services provider's stock after selling 65,800 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in JPMorgan Chase & Co. were worth $16,999,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of JPM. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $4,092,843,000. GQG Partners LLC increased its position in shares of JPMorgan Chase & Co. by 403.3% in the fourth quarter. GQG Partners LLC now owns 5,095,612 shares of the financial services provider's stock worth $806,728,000 after purchasing an additional 4,083,231 shares during the period. Renaissance Technologies LLC increased its position in shares of JPMorgan Chase & Co. by 1,543.7% in the fourth quarter. Renaissance Technologies LLC now owns 3,341,486 shares of the financial services provider's stock worth $529,124,000 after purchasing an additional 3,138,200 shares during the period. State Street Corp increased its position in shares of JPMorgan Chase & Co. by 1.6% in the fourth quarter. State Street Corp now owns 141,720,090 shares of the financial services provider's stock worth $22,441,376,000 after purchasing an additional 2,277,065 shares during the period. Finally, National Bank of Canada FI bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $298,028,000. Institutional investors own 70.35% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays set a $200.00 target price on JPMorgan Chase & Co. in a research report on Monday. StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, March 31st. They issued a "hold" rating on the stock. Wells Fargo & Company decreased their target price on JPMorgan Chase & Co. from $120.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Thursday. Jefferies Financial Group decreased their target price on JPMorgan Chase & Co. from $137.00 to $126.00 and set a "hold" rating on the stock in a research report on Monday, July 11th. Finally, Royal Bank of Canada decreased their target price on JPMorgan Chase & Co. to $130.00 in a research report on Thursday. 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $145.95.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $112.95 on Monday. The business's 50-day moving average price is $119.34 and its 200-day moving average price is $134.17. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $331.74 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 2.00 and a beta of 1.15. JPMorgan Chase & Co. has a 12 month low of $106.06 and a 12 month high of $172.96.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, hitting analysts' consensus estimates of $2.76. The company had revenue of $30.72 billion for the quarter, compared to analyst estimates of $31.82 billion. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.78 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 11.26 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Investors 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 currently 32.10%.

Insider Buying and Selling

In related news, insider Ashley Bacon sold 21,012 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total value of $2,732,400.48. Following the transaction, the insider now directly owns 178,588 shares of the company's stock, valued at $23,223,583.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.79% of the stock is owned by insiders.

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.