JPMorgan Chase & Co. $JPM Holdings Raised by Larson Financial Group LLC

Larson Financial Group LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.2% in the 4th quarter, HoldingsChannel reports. The firm owned 42,051 shares of the financial services provider’s stock after acquiring an additional 1,695 shares during the quarter. Larson Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $13,550,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Legal & General Group Plc lifted its holdings in shares of JPMorgan Chase & Co. by 3.3% during the third quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider’s stock valued at $5,964,459,000 after purchasing an additional 607,025 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.3% during the third quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider’s stock valued at $4,959,330,000 after purchasing an additional 347,033 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 2.3% during the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider’s stock valued at $4,622,675,000 after purchasing an additional 322,735 shares during the last quarter. Boston Partners lifted its holdings in shares of JPMorgan Chase & Co. by 2.3% during the third quarter. Boston Partners now owns 7,492,763 shares of the financial services provider’s stock valued at $2,360,045,000 after purchasing an additional 168,184 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of JPMorgan Chase & Co. by 19.6% during the third quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider’s stock valued at $2,086,806,000 after purchasing an additional 1,082,913 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Argus upped their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Piper Sandler upped their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Finally, UBS Group reduced their price objective on JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Fifteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $339.08.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
• Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
• Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident’ That Has JPMorgan Chase on the Hook for $4.25 Million

JPMorgan Chase & Co. Stock Down 0.9%

Shares of JPMorgan Chase & Co. stock opened at $296.53 on Friday. The stock has a 50-day moving average price of $302.25 and a 200 day moving average price of $306.84. The company has a market cap of $794.56 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.46 and a beta of 1.03. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 1 year low of $260.31 and a 1 year high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion during 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 for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $5.07 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 22.4 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 given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.0%. 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, CFO Jeremy Barnum sold 5,611 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares of the company’s stock, valued at approximately $10,870,263. This represents a 13.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 28,589 shares of company stock worth $8,747,496. Insiders own 0.41% of the company’s stock.

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.