Vertrix Wealth Management LLC Acquires New Stake in JPMorgan Chase & Co. $JPM

Vertrix Wealth Management LLC bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,986 shares of the financial services provider’s stock, valued at approximately $6,173,000. JPMorgan Chase & Co. accounts for 2.3% of Vertrix Wealth Management LLC’s investment portfolio, making the stock its 10th largest holding.

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

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of 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 position. The sale 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, COO Jennifer Piepszak sold 9,136 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. This represents a 9.22% 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. Over the last three months, insiders have sold 33,623 shares of company stock worth $10,427,835. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2%

JPM stock opened at $333.91 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The business has a 50 day moving average price of $313.35 and a two-hundred day moving average price of $309.10. The company has a market cap of $894.72 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.53 and a beta of 0.99. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.07 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 22.76 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Analyst Ratings Changes

JPM has been the subject of several research reports. The Goldman Sachs Group set a $361.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Evercore raised their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Finally, UBS Group lowered their price target on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Fourteen research 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 has an average rating of “Hold” and a consensus target price of $340.88.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: Wall Street commentary remains supportive, with analysts reworking revenue assumptions and nudging fair-value estimates higher for JPMorgan ahead of earnings. JPMorgan Chase (JPM) Stock Gets Fair Value Bump As Analysts Rework Revenue Outlook
• Positive Sentiment: Investors are also looking ahead to JPMorgan’s July 14 earnings report, with revisions trends for bank stocks still positive and expectations for the June-quarter cycle trending up. Q2 Earnings Season Nears Kickoff: Bank Earnings in Focus
• Positive Sentiment: JPMorgan’s brand and consumer franchise also got a boost from coverage of the Chase credit-card lounge wars, highlighting its push to win affluent customers and deepen loyalty. American Express and Chase move luxury lounge wars beyond the airport
• Neutral Sentiment: The bank disclosed a larger stake in Umicore SA, showing ongoing investing activity but not a clear direct catalyst for JPM shares. How JPMorgan’s Higher Umicore SA (UMICY) Stake Keeps Focus on Its Circular Battery Materials Platform
• Neutral Sentiment: JPMorgan also remained in the headlines for its broader market views, including warnings on crypto-market risks and support for clearer US crypto rules; these are more thematic than stock-moving in the near term. JPMorgan Says Saylor’s Strategy Adds New Risk to Bitcoin Market
• Negative Sentiment: Governance-related headlines may be weighing on sentiment, including the end of Marianne Lake’s CEO succession bid and her reported $50 million in unvested stock after Dimon chose other successors. JPMorgan CEO contender walks away with $50M in unvested stock after losing Jamie Dimon succession race
• Negative Sentiment: There was also another adverse legal headline, as a judge rejected JPMorgan’s challenge to a disputed $74 million legal-fee bill tied to the Charlie Javice fraud case. JPMorgan Loses Javice Legal Fee Fight
• Negative Sentiment: Separately, JPMorgan must keep paying Charlie Javice’s legal fees, adding to the expense and reputational overhang from the long-running fraud case. JPMorgan has to keep paying Charlie Javice’s legal fees, judge rules

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.