Sumitomo Mitsui Financial Group Inc. boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,155 shares of the financial services provider’s stock after buying an additional 10,278 shares during the period. JPMorgan Chase & Co. makes up 0.8% of Sumitomo Mitsui Financial Group Inc.’s holdings, making the stock its 24th biggest holding. Sumitomo Mitsui Financial Group Inc.’s holdings in JPMorgan Chase & Co. were worth $42,583,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of JPM. Roxbury Financial LLC boosted its stake in JPMorgan Chase & Co. by 0.4% during the fourth quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider’s stock worth $2,581,000 after acquiring an additional 31 shares in the last quarter. Collective Family Office LLC boosted its stake in JPMorgan Chase & Co. by 1.0% during the fourth quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider’s stock worth $1,076,000 after acquiring an additional 32 shares in the last quarter. Rialto Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 3.6% during the third quarter. Rialto Wealth Management LLC now owns 962 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 33 shares in the last quarter. Essential Planning LLC. boosted its stake in JPMorgan Chase & Co. by 2.4% during the fourth quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock worth $451,000 after acquiring an additional 33 shares in the last quarter. Finally, Tevis Investment Management boosted its stake in JPMorgan Chase & Co. by 0.8% during the third quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider’s stock worth $1,337,000 after acquiring an additional 34 shares in the last quarter. 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:
- Positive Sentiment: JPMorgan’s global expansion remains a positive, including reports that it has deployed $20 billion in the Gulf and doubled its private bankers in Singapore, signaling continued growth in wealth management and international banking. Article: JP Morgan deploys $20bn in Gulf and says postwar rebuild may cost hundreds of billions
- Positive Sentiment: The company continues to benefit from investor optimism around higher-for-longer rates after hotter inflation data, which can support bank lending margins and trading activity. Article: May Inflation Hits 4.2% as Energy Prices Surge, Raising Pressure on Federal Reserve
- Positive Sentiment: JPMorgan’s involvement in tokenized treasuries and digital-asset market infrastructure suggests it is positioned to benefit if regulated crypto adoption continues to grow. Article: Tokenized Treasuries Are Moving Onto the XRP Ledger
- Neutral Sentiment: Jamie Dimon’s comments on Mexico’s economy and trade highlight JPMorgan’s active role in global corporate and sovereign banking, but the direct stock impact is limited. Article: JPMorgan’s Jamie Dimon Praises the Mexican Economy
- Neutral Sentiment: JPMorgan also had several analyst-related headlines on other companies, but these are mostly read-throughs and do not materially change the bank’s own outlook. Article: Coherent and Lumentum just got more attractive, according to J.P. Morgan
- Negative Sentiment: The DOJ has subpoenaed JPMorgan in a widening “debanking” investigation, creating a potential legal and reputational risk for the bank. Article: US Justice Department subpoenas major banks over alleged ‘debanking’
- Negative Sentiment: JPMorgan and other banks also lost a lawsuit over alleged missed red flags at Tricolor, which may keep credit-risk concerns in focus. Article: JPMorgan, Barclays, Fifth Third defeat lawsuit over missed ‘red flags’ at Tricolor
JPMorgan Chase & Co. Trading Up 1.5%
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.07 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on JPM. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Truist Financial boosted their price objective 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. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Finally, HSBC increased their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $339.08.
View Our Latest Analysis on JPMorgan Chase & Co.
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 32,438 shares in the company, valued at approximately $10,036,641.58. The trade was a 8.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,589 shares of company stock valued at $8,747,496 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.
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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