Nolet Wealth Management LLC Purchases New Stake in JPMorgan Chase & Co. $JPM

Nolet Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,558 shares of the financial services provider’s stock, valued at approximately $824,000.

A number of other large investors have also recently made changes to their positions in the business. Timmons Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $32,000. Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Merrithew & Thorsten Inc purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $40,000. Finally, WHI TRUST Co LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $45,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $325.28 on Friday. The stock has a 50 day moving average of $309.17 and a 200 day moving average of $307.69. The company has a market capitalization of $871.58 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.51 and a beta of 1.00. JPMorgan Chase & Co. has a 12 month low of $272.11 and a 12 month high of $338.09. 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 posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share 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 analysts’ expectations 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 revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.07 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.44 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on JPM shares. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Argus increased their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Evercore lifted their price objective on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Finally, Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $339.08.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 433 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the transaction, the insider owned 64,920 shares in the company, valued at approximately $19,155,295.20. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. The trade was a 10.54% 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. Insiders sold a total of 28,589 shares of company stock valued at $8,747,496 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

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.