OP Asset Management Ltd acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 1st quarter, Holdings Channel.com reports. The fund acquired 281,552 shares of the financial services provider’s stock, valued at approximately $82,821,000. JPMorgan Chase & Co. makes up 0.8% of OP Asset Management Ltd’s holdings, making the stock its 19th biggest position.
A number of other hedge funds have also bought and sold shares of JPM. Roxbury Financial LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.4% during the 4th quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 31 shares during the period. Collective Family Office LLC raised its position in JPMorgan Chase & Co. by 1.0% in the 4th quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 32 shares during the period. Essential Planning LLC. raised its position in JPMorgan Chase & Co. by 2.4% in the 4th quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 33 shares during the period. Tevis Investment Management lifted its stake in JPMorgan Chase & Co. by 0.8% in the third quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider’s stock worth $1,337,000 after purchasing an additional 34 shares during the last quarter. Finally, Spinnaker Investment Group LLC lifted its stake in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider’s stock worth $1,670,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. stock opened at $328.73 on Friday. 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 company has a market capitalization of $880.83 billion, a PE ratio of 15.74, a P/E/G ratio of 1.56 and a beta of 1.00. The company has a 50 day moving average price of $311.44 and a 200-day moving average price of $308.42. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $343.45.
JPMorgan Chase & Co. Announces Dividend
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.
JPMorgan Chase & Co. News Summary
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
- Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
- Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title
Insider Transactions at JPMorgan Chase & Co.
In related news, CFO Jeremy Barnum sold 5,611 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the completion of the sale, the chief financial officer directly owned 35,460 shares of the company’s stock, valued at $10,870,263. This represents a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. The trade was a 9.22% 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. In the last 90 days, insiders have sold 33,623 shares of company stock valued at $10,427,835. 0.41% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on JPM. Truist Financial upped their target price on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a “hold” rating in a research note on Friday. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Evercore upped their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Finally, DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Fourteen 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 presently has a consensus rating of “Hold” and a consensus target price of $339.58.
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.
Read More
- Five stocks we like better than JPMorgan Chase & Co.
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
- Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
- Xcel Energy Stock Offers Stability as Electricity Demand Builds
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
