Pzena Investment Management LLC Buys 2,365 Shares of JPMorgan Chase & Co. $JPM

Pzena Investment Management LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 342,390 shares of the financial services provider’s stock after buying an additional 2,365 shares during the period. Pzena Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $110,325,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of JPM. Turning Point Benefit Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Merrithew & Thorsten Inc bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $40,000. WHI TRUST Co LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $45,000. Cresta Advisors Ltd. bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $48,000. Finally, Miller Global Investments LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $52,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a report on Wednesday, April 15th. UBS Group cut their price target on JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Daiwa Securities Group reduced their target price on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Finally, Argus upped their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.08.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 business’s 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 sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. The trade was 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 ninety days, insiders sold 28,589 shares of company stock valued at $8,747,496. Insiders own 0.41% of the company’s stock.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan launched a new active ETF, JPMorgan Managed Futures Plus ETF (JPFP), expanding its asset-management lineup and adding another fee-generating product for the bank. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: Jamie Dimon said JPMorgan could deploy $10 billion to $20 billion on acquisitions, signaling that the bank has significant capital and flexibility to pursue earnings-accretive deals if the right opportunity appears. Jamie Dimon Says JPMorganChase on Lookout for Potential Acquisitions
• Positive Sentiment: JPMorgan also received favorable attention for its broader market and product franchise, including commentary that retail participation could rebound and support trading activity, which would benefit the bank’s markets business. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: Dimon said he is not especially worried about inflation, a frothy stock market, or cracks in private markets, but he also described current market enthusiasm as “exuberant” and reminiscent of prior bubble-like periods. That mixed message supports the idea that JPMorgan is cautious on the macro backdrop rather than signaling a direct business problem. These Are the Forces Jamie Dimon Says Are the ‘Biggest Thing’ on His Mind These Days
• Neutral Sentiment: The bank’s recent earnings and valuation backdrop remain solid overall, with JPMorgan having beaten expectations last quarter, but the latest headlines are more about Dimon’s commentary and strategic optionality than a new fundamental catalyst.
• Negative Sentiment: Dimon’s repeated warnings that stocks are in “exuberant” territory and could echo past crash periods may be weighing on risk sentiment around JPMorgan and the broader financial sector. Stock Market Is in ‘Exuberant’ Territory, Warns Jamie Dimon
• Negative Sentiment: JPMorgan is also dealing with reputational overhang from the “salami incident” arbitration dispute, and the bank plans to challenge the $4.25 million award tied to a former advisor’s firing. While financially small, it adds unwanted headlines. The ‘Salami Incident’ That Has JPMorgan Chase on the Hook for $4.25 Million

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $298.99 on Friday. The company has a fifty day simple moving average of $302.47 and a 200 day simple moving average of $306.78. JPMorgan Chase & Co. has a 12-month low of $260.31 and a 12-month high of $337.25. 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 company has a market cap of $801.14 billion, a P/E ratio of 14.32, a PEG ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating 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 business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter last year, the firm posted $5.07 EPS. JPMorgan Chase & Co.’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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 given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is presently 28.74%.

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.