Stronghold Wealth Management L.L.C. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,994 shares of the financial services provider’s stock, valued at approximately $965,000. JPMorgan Chase & Co. accounts for 1.4% of Stronghold Wealth Management L.L.C.’s investment portfolio, making the stock its 13th biggest position.
Several other hedge funds and other institutional investors have 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 valued at $11,682,000 after purchasing an additional 4,841 shares during the period. 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 valued at $379,000 after purchasing an additional 100 shares during the period. 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 valued at $3,185,000 after purchasing an additional 78 shares during the period. Jump Financial LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $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 valued at $571,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.
JPMorgan Chase & Co. News Summary
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
- Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What’s Happening Today?
- Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
- Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition
Analyst Upgrades and Downgrades
Read Our Latest Research Report on JPM
JPMorgan Chase & Co. Price Performance
NYSE:JPM opened at $299.04 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50-day simple moving average is $302.05 and its 200 day simple moving average is $306.96. The company has a market cap of $801.27 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.50 and a beta of 1.03. JPMorgan Chase & Co. has a 52-week low of $260.31 and a 52-week high of $337.25.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.07 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is 28.74%.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the transaction, the insider directly owned 64,920 shares in the company, valued at approximately $19,155,295.20. This trade represents a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 28,589 shares of company stock worth $8,747,496 in the last three months. 0.41% of the stock is owned by corporate insiders.
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.
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