Flagstone Financial Management Raises Stake in JPMorgan Chase & Co. $JPM

Flagstone Financial Management lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 89.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,694 shares of the financial services provider’s stock after purchasing an additional 3,152 shares during the quarter. JPMorgan Chase & Co. comprises about 0.5% of Flagstone Financial Management’s investment portfolio, making the stock its 21st largest position. Flagstone Financial Management’s holdings in JPMorgan Chase & Co. were worth $1,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Timmons Wealth Management LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $32,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $29,000. Osbon Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $35,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 5,467 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the transaction, the general counsel owned 40,961 shares of the company’s stock, valued at $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the transaction, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. The trade was a 8.52% 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 have sold 33,623 shares of company stock valued at $10,427,835 in the last ninety days. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: UBS and Bank of America raised their price targets on JPMorgan Chase & Co. (NYSE: JPM), reinforcing a bullish outlook from major Wall Street firms.
• Positive Sentiment: JPMorgan Chase & Co. (NYSE: JPM) is approaching its July 14 earnings report with analysts expecting earnings growth and a potential beat.
• Positive Sentiment: Industry commentary suggests trading and investment-banking activity may have been strong in the second quarter, which could boost JPMorgan Chase & Co. (NYSE: JPM) results.
• Neutral Sentiment: Reports that big banks are exploring a payments deal to work around debit-card fee caps could be strategically important, but the direct impact on JPMorgan Chase & Co. (NYSE: JPM) remains uncertain.
• Neutral Sentiment: Several articles highlighted JPMorgan’s market commentary on currencies, semiconductors, and broader equities, which reflect the firm’s research activity more than a direct earnings driver.
• Neutral Sentiment: JPMorgan Chase & Co. (NYSE: JPM) ceased to be a substantial holder in Clarity Pharmaceuticals, a routine portfolio update with limited likely impact on the stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $339.06 on Wednesday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $343.45. The company has a market capitalization of $908.53 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.54 and a beta of 0.99. The stock has a fifty day moving average of $314.47 and a two-hundred day moving average of $309.35. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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. The business had revenue of $50.54 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $5.07 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 22.76 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on JPM. Truist Financial upped their price target on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a report on Wednesday, April 15th. HSBC boosted their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Bank of America upped their target price on JPMorgan Chase & Co. from $362.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Argus raised 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. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $345.33.

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.