JPMorgan Chase & Co. $JPM Stake Lifted by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 141,112 shares of the financial services provider’s stock after purchasing an additional 10,034 shares during the period. JPMorgan Chase & Co. accounts for 1.4% of Fifth Third Wealth Advisors LLC’s holdings, making the stock its 12th biggest holding. Fifth Third Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $41,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of JPM. Morgan Stanley lifted its position in JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock valued at $21,390,662,000 after purchasing an additional 939,421 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $11,396,496,000. Bank of New York Mellon Corp grew its position in JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after purchasing an additional 1,194,583 shares during the last quarter. Legal & General Group Plc increased its stake in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after purchasing an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock valued at $5,161,532,000 after purchasing an additional 296,213 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.9%

Shares of JPMorgan Chase & Co. stock opened at $328.73 on Friday. The business has a fifty day simple moving average of $311.44 and a 200-day simple moving average of $308.42. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $343.45. The firm has a market cap of $880.83 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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 net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period in the previous year, the business earned $5.07 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that JPMorgan Chase & Co. will post 22.44 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a $1.50 dividend. 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%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on JPM shares. Truist Financial lifted their price target on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a “hold” rating in a report on Friday. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Evercore lifted their target price on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Finally, Argus increased their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $339.58.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 9,136 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the sale, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. This represents 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 33,623 shares of company stock worth $10,427,835 over the last ninety days. 0.41% of the stock is currently owned by company insiders.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

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.