Elevation Point Wealth Partners LLC Grows Stake in JPMorgan Chase & Co. $JPM

Elevation Point Wealth Partners LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 96.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,511 shares of the financial services provider’s stock after purchasing an additional 84,028 shares during the period. JPMorgan Chase & Co. comprises 1.2% of Elevation Point Wealth Partners LLC’s portfolio, making the stock its 11th biggest position. Elevation Point Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $50,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after buying an additional 4,841 shares in the last quarter. Acorns Advisers LLC boosted its holdings in JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 100 shares in the last quarter. Ignite Planners LLC boosted its holdings in JPMorgan Chase & Co. by 0.7% in the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after acquiring an additional 78 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $1,475,000. Finally, Betterment LLC increased its holdings in shares of JPMorgan Chase & Co. by 27.5% during the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Wells Fargo raised its price target on JPMorgan Chase & Co. (JPM) to $360 and kept an overweight rating, reinforcing bullish expectations for the stock.
• Positive Sentiment: JPMorgan strategists urged investors to buy the semiconductor pullback, which highlights the firm’s continued influence on market sentiment and supports a risk-on tone for cyclical and AI-related trades.
• Positive Sentiment: Reports that major U.S. banks, including JPMorgan, are exploring a possible Fiserv network deal suggest management is still evaluating strategic fintech opportunities. Big US banks explore Fiserv network deal, WSJ reports
• Neutral Sentiment: JPMorgan’s macro outlook warned that global stocks could face a summer slowdown, but the bank argued AI will not be the only market driver going forward, which is more of a market commentary than a direct earnings catalyst. Global stocks may be headed for a summer swoon. Why AI won’t be the only story that matters, JPMorgan says
• Neutral Sentiment: JPMorgan CEO Jamie Dimon reiterated his opposition to stablecoin yield rules in the CLARITY Act, a policy stance that may matter longer term but does not appear to be an immediate stock driver. Jamie Dimon Said JPMorgan Will Fight Stablecoin Yield Rules in the CLARITY Act Before Congress Breaks for Its August Recess.
• Negative Sentiment: JPMorgan’s bearish call on the oil and economy signals caution on the macro backdrop, which could weigh on investor sentiment toward financials if growth concerns deepen. JPMorgan sends blunt verdict on oil, economy

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent analyst reports. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Argus upped their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. The Goldman Sachs Group set a $361.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Robert W. Baird set a $295.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $342.12.

JPMorgan Chase & Co. Stock Up 1.0%

Shares of JPM stock opened at $337.82 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $343.45. The stock has a market cap of $905.19 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.53 and a beta of 0.99. The stock has a 50 day moving average of $313.35 and a 200 day moving average of $309.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.07 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 22.76 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% decrease in their position. 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. Insiders have sold a total of 33,623 shares of company stock valued at $10,427,835 over the last quarter. 0.41% of the stock is owned by company insiders.

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.