SmartHarvest Portfolios LLC acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 12,485 shares of the financial services provider’s stock, valued at approximately $4,023,000. JPMorgan Chase & Co. makes up 1.4% of SmartHarvest Portfolios LLC’s holdings, making the stock its 11th largest holding.
A number of other hedge funds and other institutional investors also recently modified their holdings of JPM. Brighton Jones LLC raised 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 buying an additional 4,841 shares in the last quarter. Acorns Advisers LLC raised its stake in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after buying an additional 100 shares in the last quarter. Ignite Planners LLC raised its stake in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after buying an additional 78 shares in the last quarter. Jump Financial LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $1,475,000. Finally, Betterment LLC raised its stake in shares of JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock worth $571,000 after buying an additional 425 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.
Insiders Place Their Bets
In other news, CFO Jeremy Barnum sold 5,611 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares in the company, valued at approximately $10,870,263. The trade was a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. This represents a 9.22% 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. Over the last three months, insiders have sold 28,589 shares of company stock worth $8,747,496. 0.41% of the stock is owned by corporate insiders.
JPMorgan Chase & Co. Stock Up 1.5%
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share 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 company posted $5.07 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued 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 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on JPM. Evercore boosted their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. UBS Group cut their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Argus boosted their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, Autonomous Res cut their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $339.08.
Key JPMorgan Chase & Co. News
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan’s global expansion remains a positive, including reports that it has deployed $20 billion in the Gulf and doubled its private bankers in Singapore, signaling continued growth in wealth management and international banking. Article: JP Morgan deploys $20bn in Gulf and says postwar rebuild may cost hundreds of billions
- Positive Sentiment: The company continues to benefit from investor optimism around higher-for-longer rates after hotter inflation data, which can support bank lending margins and trading activity. Article: May Inflation Hits 4.2% as Energy Prices Surge, Raising Pressure on Federal Reserve
- Positive Sentiment: JPMorgan’s involvement in tokenized treasuries and digital-asset market infrastructure suggests it is positioned to benefit if regulated crypto adoption continues to grow. Article: Tokenized Treasuries Are Moving Onto the XRP Ledger
- Neutral Sentiment: Jamie Dimon’s comments on Mexico’s economy and trade highlight JPMorgan’s active role in global corporate and sovereign banking, but the direct stock impact is limited. Article: JPMorgan’s Jamie Dimon Praises the Mexican Economy
- Neutral Sentiment: JPMorgan also had several analyst-related headlines on other companies, but these are mostly read-throughs and do not materially change the bank’s own outlook. Article: Coherent and Lumentum just got more attractive, according to J.P. Morgan
- Negative Sentiment: The DOJ has subpoenaed JPMorgan in a widening “debanking” investigation, creating a potential legal and reputational risk for the bank. Article: US Justice Department subpoenas major banks over alleged ‘debanking’
- Negative Sentiment: JPMorgan and other banks also lost a lawsuit over alleged missed red flags at Tricolor, which may keep credit-risk concerns in focus. Article: JPMorgan, Barclays, Fifth Third defeat lawsuit over missed ‘red flags’ at Tricolor
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.
Recommended Stories
- Five stocks we like better than JPMorgan Chase & Co.
- Microsoft Just Gave Investors 3 Dates They Can’t Afford to Ignore
- NVIDIA’s Outlook Gains Momentum: Stock Price to Follow
- The World Cup Is Coming—These 3 Stocks Could Cash In
- Spotify’s “North Star” Outlook Was Music to Investors Ears
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
