Inlet Private Wealth LLC Reduces Stake in JPMorgan Chase & Co.

Inlet Private Wealth LLC has made a notable adjustment to its investment portfolio by selling 175 shares of JPMorgan Chase & Co. (NYSE:JPM) in the third quarter, which translates to a decrease of 0.3%. Following this sale, the firm now holds 53,614 shares of the financial services giant. This stock now represents about 2.9% of their total investment portfolio, making JPMorgan Chase & Co. their fourth largest investment position.

At the close of the last quarter, Inlet Private Wealth LLC's holdings in JPMorgan Chase & Co. were valued at approximately $11,305,000.

Several other institutional investors have recently changed their positions in JPMorgan Chase & Co. Good Life Advisors LLC increased its stake by 7.5% in the third quarter, acquiring an additional 1,348 shares and reaching a total of 19,335 shares. Greater Midwest Financial Group LLC also grew its position slightly by 0.5% after adding 51 shares, bringing their total to 10,464 shares. Likewise, Hengehold Capital Management LLC raised its stake by 1.6% with the purchase of 487 additional shares, now owning 30,385 shares. Kowal Investment Group LLC increased its holding by 1.9%, now holding 10,520 shares after acquiring 201 more. Horizon Wealth Management LLC reported a larger increase of 13.0%, acquiring 628 shares to boast a total of 5,468 shares. Currently, institutional investors collectively own about 71.55% of JPMorgan Chase & Co.’s stock.

Analyst Opinions and Forecasts

In recent weeks, JPMorgan Chase & Co. has been the focus of various analyst evaluations. Royal Bank of Canada raised its target price for the shares from $211.00 to $230.00 and assigned an “outperform” rating on October 14th. Conversely, Morgan Stanley adjusted its rating from “overweight” to “equal weight” while increasing its price target from $220.00 to $224.00 at the end of September.

Further evaluations include StockNews.com upgrading JPMorgan from a “sell” to a “hold” on July 13th. Evercore ISI also increased their price target for the stock from $217.00 to $230.00 with an “outperform” rating as of October 14th. Jefferies Financial Group has lifted its price objective from $230.00 to $239.00, providing a “buy” rating earlier in July. Currently, the consensus among analysts suggests a moderate buy rating for the stock, with an average price target of $217.94.

Current Stock Performance

As of the last trading session, shares of JPMorgan Chase & Co. were priced at $225.43, reflecting a 0.5% increase. The company has a debt-to-equity ratio of 1.24, and its current liabilities ratio stands at 0.91. Over the past 200 days, the stock has shown an average price of $204.50, boosting its market capitalization to $647.36 billion, with a price-to-earnings (P/E) ratio of 12.57 and a beta value of 1.11. For the past twelve months, the stock has fluctuated between a low of $135.19 and a high of $225.92.

On October 11th, JPMorgan Chase & Co. disclosed its latest quarterly earnings, reporting earnings per share (EPS) of $4.37, exceeding the expected EPS of $4.02 by $0.35. The revenue for the quarter reached $43.32 billion, surpassing analyst expectations of $41.43 billion. The company has reported a strong return on equity of 17.26% and a net profit margin of 20.32%, marking a year-over-year revenue increase of 6.5%.

Dividend Increase

JPMorgan Chase & Co. has also announced an increase in its quarterly dividend, which is set to be paid out on October 31st to shareholders on record by October 4th. This dividend has been raised from $1.15 to $1.25 per share, amounting to an annualized dividend of $5.00 and a yield of 2.22%. The dividend payout ratio currently stands at 27.89%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. operates globally as a financial services company across four primary segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment provides a wide array of services, including deposits, investments, lending products, cash management, and payment solutions to retail clients and small businesses through multiple channels, including physical bank branches and online platforms.

finance, investment, stocks