Flagstone Financial Management Grows Stock Position in JPMorgan Chase & Co. $JPM

Flagstone Financial Management grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 89.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,694 shares of the financial services provider’s stock after buying an additional 3,152 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.5% of Flagstone Financial Management’s portfolio, making the stock its 21st biggest position. Flagstone Financial Management’s holdings in JPMorgan Chase & Co. were worth $1,969,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $11,396,496,000. Cardano Risk Management B.V. lifted its holdings in JPMorgan Chase & Co. by 889.3% during the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after buying an additional 7,796,814 shares during the last quarter. Danske Bank A S acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $696,885,000. American Assets Investment Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1,172.2% during the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after acquiring an additional 2,081,800 shares in the last quarter. Finally, Holocene Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 1,033.3% during the 3rd quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock worth $679,790,000 after acquiring an additional 1,964,958 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.4%

Shares of JPM stock opened at $339.06 on Wednesday. The company has a market capitalization of $908.53 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $314.47 and its two-hundred day moving average is $309.35. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results 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. 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 during the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter in the prior year, the business earned $5.07 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 22.76 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: UBS and Bank of America raised their price targets on JPMorgan Chase & Co. (NYSE: JPM), reinforcing a bullish outlook from major Wall Street firms.
• Positive Sentiment: JPMorgan Chase & Co. (NYSE: JPM) is approaching its July 14 earnings report with analysts expecting earnings growth and a potential beat.
• Positive Sentiment: Industry commentary suggests trading and investment-banking activity may have been strong in the second quarter, which could boost JPMorgan Chase & Co. (NYSE: JPM) results.
• Neutral Sentiment: Reports that big banks are exploring a payments deal to work around debit-card fee caps could be strategically important, but the direct impact on JPMorgan Chase & Co. (NYSE: JPM) remains uncertain.
• Neutral Sentiment: Several articles highlighted JPMorgan’s market commentary on currencies, semiconductors, and broader equities, which reflect the firm’s research activity more than a direct earnings driver.
• Neutral Sentiment: JPMorgan Chase & Co. (NYSE: JPM) ceased to be a substantial holder in Clarity Pharmaceuticals, a routine portfolio update with limited likely impact on the stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JPM. Daiwa Securities Group cut their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Bank of America upped their price target on JPMorgan Chase & Co. from $362.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Finally, Evercore reaffirmed an “outperform” rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a report on Monday. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $345.33.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The sale 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 stock in a transaction dated 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 transaction, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This 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 quarter, insiders sold 33,623 shares of company stock worth $10,427,835. Company insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Company 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.