Welch Group LLC Sells 4,035 Shares of JPMorgan Chase & Co. $JPM

Welch Group LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,004 shares of the financial services provider’s stock after selling 4,035 shares during the quarter. JPMorgan Chase & Co. comprises 3.1% of Welch Group LLC’s investment portfolio, making the stock its 6th biggest holding. Welch Group LLC’s holdings in JPMorgan Chase & Co. were worth $81,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in JPM. Morgan Stanley boosted its holdings in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after acquiring an additional 939,421 shares in the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp increased its holdings in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after acquiring an additional 1,194,583 shares in the last quarter. Legal & General Group Plc raised its position in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after purchasing an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of JPMorgan Chase & Co. by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after purchasing an additional 296,213 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on JPM. Autonomous Res decreased their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a “hold” rating in a report on Friday. Argus boosted their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $340.88.

JPMorgan Chase & Co. Trading Up 0.2%

Shares of JPMorgan Chase & Co. stock opened at $329.85 on Tuesday. The stock has a fifty day simple moving average of $311.85 and a 200 day simple moving average of $308.58. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $343.45. The company has a market capitalization of $883.83 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00. 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. (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. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. During the same period in the prior year, the firm posted $5.07 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.43 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan’s recently announced $50 billion buyback plan and expected dividend boost reinforce its capital strength and shareholder-friendly stance, which is helping sentiment toward the stock.
• Positive Sentiment: Morgan Stanley raised its price target on JPMorgan to $362 from $336 while maintaining an equal-weight rating, signaling further upside from current levels.
• Positive Sentiment: The Federal Reserve stress test results showed the largest U.S. banks, including JPMorgan, can withstand a severe downturn, which supports confidence in the bank’s balance sheet and capital return plans.
• Neutral Sentiment: JPMorgan’s leadership reshuffle and succession planning for Jamie Dimon are drawing attention, but the move appears orderly so far and is not yet a clear positive or negative catalyst.
• Neutral Sentiment: Some commentary highlighted JPMorgan’s continued strength as a long-term banking franchise, but these pieces were mostly opinion-driven and add limited new fundamental information.
• Negative Sentiment: Several analysts noted rising costs, interest-rate pressures, and asset-quality risks as reasons to remain cautious, which could limit how aggressively investors bid up the shares.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of the company’s stock in a transaction dated 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. This represents a 5.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was 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 of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. 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. Insiders sold a total of 33,623 shares of company stock worth $10,427,835 over the last quarter. 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.