MADDEN SECURITIES Corp Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM) (2024)

MADDEN SECURITIES Corp cut its stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 37.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,849 shares of the financial services provider’s stock after selling 1,671 shares during the quarter. MADDEN SECURITIES Corp’s holdings in JPMorgan Chase & Co. were worth $571,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Morgan Stanley increased its position in shares of JPMorgan Chase & Co. by 0.3% during the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock valued at $9,127,754,000 after buying an additional 201,441 shares during the period. Wellington Management Group LLP grew its stake in JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after acquiring an additional 4,603,090 shares in the last quarter. Capital International Investors increased its holdings in JPMorgan Chase & Co. by 5.4% during the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after acquiring an additional 2,128,478 shares during the period. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $6,016,878,000. Finally, Ameriprise Financial Inc. boosted its holdings in JPMorgan Chase & Co. by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock valued at $3,442,313,000 after purchasing an additional 457,184 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 sale, the general counsel now owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 3,920 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $195.36, for a total transaction of $765,811.20. Following the completion of the sale, the insider now directly owns 64,783 shares in the company, valued at approximately $12,656,006.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,485 shares of company stock worth $47,728,528. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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Several research firms have recently weighed in on JPM. Robert W. Baird upped their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Piper Sandler raised their price target on JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Morgan Stanley lowered their target price on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. Finally, UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.10.

View Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Trading Up 0.9 %

NYSE JPM opened at $198.71 on Friday. The firm has a market capitalization of $570.63 billion, a PE ratio of 12.00, a P/E/G ratio of 2.65 and a beta of 1.12. The stock’s 50 day moving average is $194.93 and its 200 day moving average is $184.22. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $205.88. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.45. The firm had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. Research analysts forecast that JPMorgan Chase & Co. will post 16.41 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.31%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

JPMorgan Chase & Co. 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.