Brian Low Financial Group Expands Holdings in JPMorgan Chase
Brian Low Financial Group LLC has significantly increased its investment in JPMorgan Chase & Co. (NYSE: JPM) during the second quarter of 2023. The firm acquired 9,235 shares, valued at approximately $2,677,000, which now represents about 2.5% of its total investment portfolio, making it the group’s seventh largest holding.
Several other institutional investors have also made notable adjustments to their stakes in JPMorgan Chase. Brighton Jones LLC increased its position by 11.0% in the fourth quarter, now holding 48,732 shares worth $11,682,000 after adding 4,841 shares. Similarly, Acorns Advisers LLC raised its holdings by 6.9% in the first quarter, bringing its total to 1,547 shares valued at $379,000 after acquiring an additional 100 shares.
Summit Trail Advisors LLC and Rossby Financial LLC also expanded their investments, increasing their holdings by 10.5% and 41.4%, respectively. Summit now owns 99,119 shares valued at $24,314,000, while Rossby holds 4,143 shares worth $1,009,000. Lastly, Yukon Wealth Management Inc. purchased a new position valued at approximately $2,191,000. Currently, institutional investors and hedge funds collectively own 71.55% of JPMorgan Chase’s shares.
Analysts have been actively monitoring JPMorgan Chase’s performance. According to recent reports, Loop Capital set a target price of $310.00 on the stock, while DZ Bank maintained a “neutral” rating. KGI Securities raised its target from $300.00 to $315.00 and provided a “hold” rating. Wolfe Research increased its target from $342.00 to $346.00, awarding the stock an “outperform” rating. Truist Financial also raised its price objective from $290.00 to $319.00 with a “hold” rating. Overall, analysts have issued a mix of ratings, with two giving a “Strong Buy,” fourteen a “Buy,” nine a “Hold,” and three a “Sell” rating. Presently, JPMorgan Chase holds an average rating of “Moderate Buy” with a target price of $326.38 according to data from MarketBeat.
In related insider trading news, Director Linda Bammann sold 9,500 shares on September 2, 2023, at an average price of $297.94, resulting in a total transaction of $2,830,430. Following this sale, Bammann’s ownership decreased by 10.36%, leaving her with 82,207 shares valued at approximately $24,492,753.58. Company insiders currently own 0.47% of the company’s stock.
As of Wednesday, shares of JPMorgan Chase opened at $309.36. The firm’s 50-day and 200-day simple moving averages stand at $305.42 and $285.96, respectively. With a market capitalization of $850.66 billion, JPMorgan Chase has a price-to-earnings ratio of 15.32 and a debt-to-equity ratio of 1.26.
On October 14, 2023, JPMorgan Chase reported $5.07 earnings per share (EPS) for the quarter, surpassing analysts’ estimates of $4.83 by $0.24. The company achieved revenue of $46.43 billion, exceeding the consensus estimate of $44.42 billion. This performance reflects a year-over-year revenue increase of 8.8%, compared to $4.37 EPS during the same period last year.
Additionally, JPMorgan Chase recently announced a quarterly dividend of $1.50 per share, paid on October 31, 2023, up from the previous dividend of $1.40. The ex-dividend date was October 6, 2023, and this increase represents an annualized dividend of $6.00 with a yield of 1.9%. The company’s current dividend payout ratio is 29.72%.
JPMorgan Chase & Co. operates as a financial holding company, providing a diverse range of services including investment banking, consumer financial services, commercial banking, and asset management. Its operations are categorized into Consumer and Community Banking, Commercial and Investment Banking, Asset and Wealth Management, and Corporate segments.
