Cache Advisors LLC Purchases New Position in JPMorgan Chase & Co. $JPM

Cache Advisors LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,675 shares of the financial services provider’s stock, valued at approximately $493,000.

Several other hedge funds have also recently bought and sold shares of the stock. Richards Merrill & Peterson Inc. boosted its stake in shares of JPMorgan Chase & Co. by 2.3% in the 1st quarter. Richards Merrill & Peterson Inc. now owns 15,730 shares of the financial services provider’s stock valued at $4,627,000 after purchasing an additional 354 shares in the last quarter. New Covenant Trust Company N.A. grew its holdings in shares of JPMorgan Chase & Co. by 6.8% in the 1st quarter. New Covenant Trust Company N.A. now owns 5,535 shares of the financial services provider’s stock worth $1,628,000 after purchasing an additional 351 shares during the last quarter. Amarillo National Bank increased its position in shares of JPMorgan Chase & Co. by 3.8% during the 1st quarter. Amarillo National Bank now owns 29,568 shares of the financial services provider’s stock worth $8,698,000 after purchasing an additional 1,082 shares in the last quarter. Vermillion Wealth Management Inc. increased its position in shares of JPMorgan Chase & Co. by 23.4% during the 1st quarter. Vermillion Wealth Management Inc. now owns 997 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 189 shares in the last quarter. Finally, Mainstream Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.3% during the 1st quarter. Mainstream Capital Management LLC now owns 8,755 shares of the financial services provider’s stock valued at $2,575,000 after purchasing an additional 114 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 9,136 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares of the company’s stock, valued at $27,590,706.56. The trade was a 9.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,623 shares of company stock valued at $10,427,835 in the last 90 days. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on JPM. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Argus boosted their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Finally, HSBC lifted their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $339.58.

JPMorgan Chase & Co. Trading Down 1.9%

JPMorgan Chase & Co. stock opened at $328.73 on Friday. The firm has a 50-day moving average of $311.44 and a 200-day moving average of $308.42. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $343.45. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $880.83 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.56 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the previous year, the business earned $5.07 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 22.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.

JPMorgan Chase & Co. Profile

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.