JPMorgan Chase & Co. (NYSE:JPM) is Independent Advisor Alliance's 8th Largest Position

Key Points

• Independent Advisor Alliance increased its stake in JPMorgan Chase & Co. by 2.2% in Q1 2023, making it the firm's 8th largest position.
• Analyst Ratings for JPMorgan are mixed, with a consensus rating of "Moderate Buy," and target prices ranging from $259 to $325 based on various analysts' reports.
• Insider selling is noted, with COO Jennifer Piepszak and General Counsel Stacey Friedman selling shares, indicating a decrease in their ownership of the company's stock.

Independent Advisor Alliance raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 185,379 shares of the financial services provider's stock after buying an additional 3,933 shares during the period. JPMorgan Chase & Co. comprises approximately 1.5% of Independent Advisor Alliance's holdings, making the stock its 8th largest position. Independent Advisor Alliance's holdings in JPMorgan Chase & Co. were worth $45,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $28,000. University of Illinois Foundation purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $30,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $33,000. Measured Risk Portfolios Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $54,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JPM shares. HSBC reaffirmed a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,557 shares of company stock worth $4,113,796. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $294.03 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The firm has a market capitalization of $808.52 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. The company's 50-day moving average is $285.93 and its 200 day moving average is $263.45.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the prior year, the company posted $6.12 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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