Bridgeway Capital Management LLC Boosts Stock Holdings in JPMorgan Chase & Co. $JPM

Bridgeway Capital Management LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,562 shares of the financial services provider’s stock after buying an additional 2,765 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.8% of Bridgeway Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Bridgeway Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $38,847,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of JPM. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $11,396,496,000. Cardano Risk Management B.V. lifted its position in shares of JPMorgan Chase & Co. by 889.3% during the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after buying an additional 7,796,814 shares in the last quarter. Danske Bank A S bought a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $696,885,000. American Assets Investment Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1,172.2% during the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after buying an additional 2,081,800 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of JPMorgan Chase & Co. by 1,033.3% during the 3rd quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock worth $679,790,000 after buying an additional 1,964,958 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan’s Chase digital bank is reportedly expanding deeper into Europe, which could open a new long-term retail growth channel beyond the U.S. JPMorgan Chase (JPM) Expands Chase Digital Bank Across Europe In Five Year Push
• Positive Sentiment: JPMorgan has been highlighted as a leadership name in financials, with chart-focused coverage suggesting the stock’s uptrend may still have room to continue. Chart of the Day: JPMorgan’s Bull Market May Be Far From Over
• Positive Sentiment: Rising short-term Treasury yields after hawkish Fed messaging support the outlook for banks by improving lending spreads and reinforcing a higher-for-longer rate environment. Traders Fully Price in a Rate Hike by October on Hawkish Fed
• Neutral Sentiment: The broader financial sector was mixed to slightly softer late in the day, which could temper some of the gains in bank shares. Sector Update: Financial Stocks Softer Late Afternoon
• Neutral Sentiment: JPMorgan and other financial firms were named in an Epstein-related records preservation request, but this appears more like a legal headline than a direct fundamental catalyst for JPM stock. Market Chatter: JPMorgan, Google Among Firms Asked to Preserve Records in Epstein Ranch Investigation
• Negative Sentiment: Potentially higher borrowing costs from the Fed’s hawkish tone could also pressure parts of the economy and weigh on rate-sensitive sentiment if investors worry about slower loan growth or credit quality. Bond Rally Fails to Allay Higher-for-Longer Global Rates Threat

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Daiwa Securities Group lowered their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. The Goldman Sachs Group set a $361.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Finally, Jefferies Financial Group reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Fourteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $339.08.

JPMorgan Chase & Co. Trading Up 0.7%

Shares of JPM stock opened at $333.45 on Thursday. The company’s fifty day simple moving average is $308.27 and its two-hundred day simple moving average is $307.48. The stock has a market capitalization of $893.47 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.62 and a beta of 1.00. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. JPMorgan Chase & Co. has a 1 year low of $269.72 and a 1 year high of $337.77.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The firm 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 business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.07 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is 28.74%.

Insider Activity

In other news, insider Robin Leopold sold 433 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the transaction, the insider directly owned 64,920 shares in the company, valued at $19,155,295.20. The trade was a 0.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were 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. This trade represents a 10.54% 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 28,589 shares of company stock valued at $8,747,496 over the last 90 days. Company 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.