Plan Group Financial LLC Increases Position in JPMorgan Chase & Co. $JPM

Plan Group Financial LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 516.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,974 shares of the financial services provider’s stock after purchasing an additional 32,656 shares during the period. JPMorgan Chase & Co. accounts for 3.3% of Plan Group Financial LLC’s portfolio, making the stock its 5th largest position. Plan Group Financial LLC’s holdings in JPMorgan Chase & Co. were worth $12,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Mountain Hill Investment Partners Corp. bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $32,000. Turning Point Benefit Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $35,000. Cresta Advisors Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $48,000. Miller Global Investments LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $52,000. Finally, Collier Financial bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $60,000. Institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 50,000 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the transaction, the chief executive officer directly owned 111,279 shares in the company, valued at approximately $34,174,893.69. This trade represents a 31.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 3,404 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total value of $1,042,985.60. Following the transaction, the general counsel owned 61,949 shares in the company, valued at approximately $18,981,173.60. This trade represents a 5.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,849 shares of company stock worth $24,522,956 in the last quarter. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Daiwa Securities Group cut their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Robert W. Baird set a $295.00 target price on JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Truist Financial raised their target price on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a “hold” rating in a research report on Wednesday, April 15th. Autonomous Res lowered their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Finally, Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Fifteen investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $338.12.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan’s bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

JPMorgan Chase & Co. Stock Down 0.7%

JPM opened at $297.93 on Friday. JPMorgan Chase & Co. has a 12 month low of $256.00 and a 12 month high of $337.25. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $798.31 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.46 and a beta of 1.03. The stock’s 50 day moving average price is $299.67 and its 200 day moving average price is $307.32.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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 return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period last year, the firm earned $5.07 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that JPMorgan Chase & Co. will post 22.42 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were given a dividend of $1.50 per share. The ex-dividend date was Monday, April 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

About JPMorgan Chase & Co.

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.