JPMorgan Chase & Co. $JPM Holdings Boosted by Investment Management Corp of Ontario

Investment Management Corp of Ontario boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 356,550 shares of the financial services provider’s stock after purchasing an additional 16,933 shares during the period. JPMorgan Chase & Co. accounts for 1.5% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 12th biggest holding. Investment Management Corp of Ontario’s holdings in JPMorgan Chase & Co. were worth $114,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $32,000. Turning Point Benefit Group Inc. purchased a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Merrithew & Thorsten Inc purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $40,000. Finally, WHI TRUST Co LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $45,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.7%

JPMorgan Chase & Co. stock opened at $333.45 on Thursday. The company’s fifty day simple moving average is $308.27 and its 200-day simple moving average is $307.48. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12 month low of $269.72 and a 12 month high of $337.77. The stock has a market cap of $893.47 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.62 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period in the previous year, the company posted $5.07 EPS. JPMorgan Chase & Co.’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.

Insider Activity at JPMorgan Chase & Co.

In other news, 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 directly owned 46,428 shares in the company, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction, the insider owned 64,920 shares in the company, valued at approximately $19,155,295.20. This represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 28,589 shares of company stock valued at $8,747,496. Insiders own 0.41% of the company’s stock.

Trending Headlines about JPMorgan Chase & Co.

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

Several equities analysts have weighed in on JPM shares. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Argus lifted their price objective 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. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Finally, Autonomous Res lowered their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $339.08.

JPMorgan Chase & Co. 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.