M3 Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,744 shares of the financial services provider’s stock, valued at approximately $1,529,000. JPMorgan Chase & Co. makes up 1.2% of M3 Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding.
Other large investors have also bought and sold shares of the company. Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Merrithew & Thorsten Inc bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $40,000. WHI TRUST Co LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $45,000. Cresta Advisors Ltd. bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $48,000. Finally, Miller Global Investments LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $52,000. 71.55% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
JPM has been the subject of a number of research reports. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $339.08.
JPMorgan Chase & Co. Price Performance
Shares of JPM opened at $310.99 on Friday. The stock has a market capitalization of $833.29 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.47 and a beta of 1.00. JPMorgan Chase & Co. has a twelve month low of $260.31 and a twelve month high of $337.25. The company has a 50 day moving average of $303.54 and a 200-day moving average of $306.44. 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 – Get Free Report) last issued its quarterly earnings results 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 company had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $5.07 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.
Insider Buying and Selling
In other news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,589 shares of company stock worth $8,747,496. 0.41% of the stock is owned by corporate insiders.
Key Stories Impacting JPMorgan Chase & Co.
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: Jamie Dimon is personally promoting SpaceX’s expected blockbuster IPO to 2,500 ultra-wealthy JPMorgan clients, highlighting JPMorgan’s ability to win marquee mandates and generate advisory and placement fees. Reuters article on Dimon discussing SpaceX IPO roadshow
- Positive Sentiment: Reports say JPMorgan is also looking at acquisition opportunities, with CEO Jamie Dimon previously suggesting the bank could deploy $10 billion to $20 billion for a deal, which could support growth if executed well. Yahoo Finance article on acquisition opportunities
- Neutral Sentiment: JPMorgan and other major banks are planning a tokenized deposit system to compete with stablecoins and crypto firms, a longer-term strategic move that could help defend the payments business but is not an immediate earnings driver. WSJ article on tokenized deposit system
- Neutral Sentiment: JPMorgan disclosed that some affiliated entities exited a substantial holder position in PLS Group and increased a stake in a2 Milk, but these are portfolio actions by affiliates and are unlikely to move JPMorgan’s shares meaningfully. TipRanks article on PLS Group filing
- Negative Sentiment: Some commentary from JPMorgan has warned that the crypto-focused CLARITY Act faces a narrow path to passage, underscoring ongoing policy uncertainty in an area the bank is watching closely. Benzinga article on CLARITY Act timing
JPMorgan Chase & Co. Company 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.
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