Larson Financial Group LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,051 shares of the financial services provider’s stock after acquiring an additional 1,695 shares during the quarter. Larson Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $13,550,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Howard Capital Management Inc. boosted its position in JPMorgan Chase & Co. by 18.2% during the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock valued at $8,308,000 after purchasing an additional 3,976 shares during the period. Andra AP fonden grew its position in JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Andra AP fonden now owns 107,700 shares of the financial services provider’s stock worth $33,972,000 after purchasing an additional 3,300 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in JPMorgan Chase & Co. by 51.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock worth $2,862,000 after purchasing an additional 3,027 shares during the last quarter. Banco Santander S.A. grew its position in JPMorgan Chase & Co. by 9.0% in the 3rd quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider’s stock worth $142,767,000 after purchasing an additional 37,550 shares during the last quarter. Finally, Brighton Jones LLC grew its position in 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. Institutional investors and hedge funds own 71.55% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on JPM. Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Wells Fargo & Company reduced their price target on JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Daiwa Securities Group reduced their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Autonomous Res reduced their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Finally, Piper Sandler boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research 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 stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $339.08.
Insider Transactions at JPMorgan Chase & Co.
In other news, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a 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 company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 28,589 shares of company stock worth $8,747,496. Corporate 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 company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $794.56 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03. The stock has a fifty day moving average of $302.25 and a two-hundred day moving average of $306.84. JPMorgan Chase & Co. has a 1 year low of $260.31 and a 1 year high of $337.25.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion during 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 company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.07 earnings per share. As a group, research analysts expect that JPMorgan Chase & Co. will post 22.4 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. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.
JPMorgan Chase & Co. News Roundup
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
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.
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