Inlet Private Wealth LLC Sells 175 Shares of JPMorgan Chase & Co. (NYSE:JPM)

On October 19th, 2024, it was reported that Inlet Private Wealth LLC has made a small adjustment to its investment in JPMorgan Chase & Co. (NYSE:JPM). In the third quarter, the firm reduced its stake by 0.3%, now holding a total of 53,614 shares after selling 175 shares. This change in shares means that JPMorgan Chase & Co. comprises about 2.9% of Inlet Private Wealth LLC’s investment portfolio, ranking as its fourth largest position. At the end of the last quarter, these holdings were valued at approximately $11,305,000.

In addition to Inlet Private Wealth LLC, other significant investors are also adjusting their positions in JPMorgan Chase & Co. For instance, Good Life Advisors LLC upped its holdings by 7.5% during the third quarter, owning 19,335 shares valued at $4,077,000 after purchasing 1,348 additional shares. Greater Midwest Financial Group LLC saw a slight increase of 0.5% in its holdings, now owning 10,464 shares worth $2,206,000. Hengehold Capital Management LLC increased its stake by 1.6%, bringing its total to 30,385 shares valued at $6,407,000. Similarly, Kowal Investment Group LLC raised its position by 1.9%, owning 10,520 shares worth $2,218,000 after acquiring an additional 201 shares. Horizon Wealth Management LLC also increased its position by 13.0%, now holding 5,468 shares valued at $1,153,000.

Overall, institutional investors hold a significant 71.55% of the company’s stock, reflecting a strong interest in JPMorgan Chase & Co.

Analyst Opinions

Recent activity among analysts indicates positive sentiment surrounding JPMorgan Chase & Co. Royal Bank of Canada recently raised its target price from $211.00 to $230.00, rating the stock as “outperform.” Conversely, Morgan Stanley changed its rating from “overweight” to “equal weight,” while also increasing its price target from $220.00 to $224.00. StockNews.com upgraded its rating from “sell” to “hold.” Evercore ISI similarly raised their target price from $217.00 to $230.00 with an “outperform” rating. Jefferies Financial Group has set a target of $239.00, rating the stock as a “buy.” Currently, nine analysts have rated the stock with a hold, and eleven have rated it as a buy. The consensus rating, according to MarketBeat.com, stands at “Moderate Buy,” with a price target average of $217.94.

Current Stock Performance

On the market, shares of JPMorgan Chase opened at $225.43. The company’s financial metrics show a debt-to-equity ratio of 1.24, a current ratio of 0.91, and a quick ratio of 0.91. The stock’s recent performance reflects a 50-day moving average price of $214.03 and a 200-day moving average of $204.50. The total market capitalization for JPMorgan Chase is $647.36 billion, accompanied by a price-to-earnings (P/E) ratio of 12.57 and a P/E to growth (P/E/G) ratio of 3.28. Over the last year, shares have ranged between a low of $135.19 and a high of $225.92.

In its latest quarterly earnings report released on October 11th, JPMorgan Chase reported earnings per share (EPS) of $4.37, which exceeded the consensus estimate of $4.02 by $0.35. The revenue for the quarter was $43.32 billion, surpassing the expected $41.43 billion, and showing a year-over-year growth of 6.5%. Analysts forecast an EPS of 16.75 for the current fiscal year.

Dividend Increase Announcement

Recently, JPMorgan Chase announced a quarterly dividend of $1.25 per share, which will be distributed on October 31st to shareholders of record as of October 4th. This marks an increase from the previous quarterly dividend of $1.15. The annualized dividend now stands at $5.00, providing a yield of 2.22%. The company maintains a dividend payout ratio of 27.89%, demonstrating ongoing financial stability.

Company Overview

JPMorgan Chase & Co. operates as a leading financial services company globally. The bank conducts its business through four main segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment provides a wide range of services, including depositional banking, investment alternatives, cash management, mortgage loans, credit cards, and personal loans, accessible through both physical branches and digital platforms.

Conclusion

The recent changes in holdings by Inlet Private Wealth LLC, along with the performance of JPMorgan Chase & Co., indicate fluctuations in investor sentiment and market dynamics relevant to financial services.

investment, stocks, finance