Adell Harriman & Carpenter Inc. Raises Stake in JPMorgan Chase & Co. $JPM

Adell Harriman & Carpenter Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 116,454 shares of the financial services provider’s stock after acquiring an additional 2,536 shares during the period. JPMorgan Chase & Co. makes up approximately 2.2% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 12th largest position. Adell Harriman & Carpenter Inc.’s holdings in JPMorgan Chase & Co. were worth $37,524,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Howard Capital Management Inc. increased its holdings in shares of JPMorgan Chase & Co. by 18.2% in the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock worth $8,308,000 after acquiring an additional 3,976 shares during the period. Andra AP fonden increased its stake in JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Andra AP fonden now owns 107,700 shares of the financial services provider’s stock valued at $33,972,000 after buying an additional 3,300 shares during the period. Newbridge Financial Services Group Inc. increased its position in shares of JPMorgan Chase & Co. by 51.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock valued at $2,862,000 after purchasing an additional 3,027 shares during the period. Banco Santander S.A. increased its position in shares of JPMorgan Chase & Co. by 9.0% during the 3rd quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider’s stock valued at $142,767,000 after purchasing an additional 37,550 shares during the period. Finally, Brighton Jones LLC grew its stake in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 28,589 shares of company stock worth $8,747,496. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.9%

Shares of JPM stock opened at $296.53 on Friday. The firm has a 50-day moving average price of $302.25 and a 200 day moving average price of $306.84. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12-month low of $260.31 and a 12-month high of $337.25. The company has a market capitalization of $794.56 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the previous year, the company posted $5.07 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts forecast that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is presently 28.74%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. HSBC upped their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Finally, Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $339.08.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
• Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
• Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident’ That Has JPMorgan Chase on the Hook for $4.25 Million

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.