Storen Legacy Partners LLC Buys New Position in JPMorgan Chase & Co. $JPM

Storen Legacy Partners LLC purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, Holdings Channel reports. The fund purchased 7,864 shares of the financial services provider’s stock, valued at approximately $2,534,000. JPMorgan Chase & Co. comprises 0.8% of Storen Legacy Partners LLC’s holdings, making the stock its 15th largest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. Acorns Advisers LLC lifted its position in shares of JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after buying an additional 100 shares in the last quarter. Ignite Planners LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock valued at $3,185,000 after buying an additional 78 shares in the last quarter. Jump Financial LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $1,475,000. Finally, Betterment LLC grew its stake in shares of JPMorgan Chase & Co. by 27.5% during the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after acquiring an additional 425 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.0%

JPM stock opened at $325.28 on Friday. JPMorgan Chase & Co. has a 1-year low of $272.11 and a 1-year high of $338.09. 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 company has a market capitalization of $871.58 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.51 and a beta of 1.00. The business has a 50 day simple moving average of $309.17 and a two-hundred day simple moving average of $307.69.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (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 firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter last year, the business posted $5.07 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 22.44 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the transaction, the chief operating officer owned 85,082 shares in the company, valued at $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $295.06, for a total value of $127,760.98. Following the transaction, the insider owned 64,920 shares of the company’s stock, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is currently owned by insiders.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JPM shares. The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Barclays reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Finally, Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price 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.