1,185,864 Shares in JPMorgan Chase & Co. $JPM Purchased by Employees Provident Fund Board

Key Points

• Employees Provident Fund Board opened a new position in JPMorgan Chase, buying 1,185,864 shares worth about $382.1 million. The stake now represents roughly 2.8% of its portfolio and is its 8th-largest holding.
• JPMorgan reported better-than-expected quarterly results, with EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion versus expectations of $48.30 billion. Revenue rose 10% year over year, and analysts now expect full-year EPS of 22.44.
• The bank declared a quarterly dividend of $1.50 per share, payable July 31, implying an annualized dividend of $6.00 and a 1.8% yield. Meanwhile, insiders have recently sold shares, and analysts currently have a consensus rating of Hold with a $339.08 price target.

Employees Provident Fund Board bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,185,864 shares of the financial services provider's stock, valued at approximately $382,109,000. JPMorgan Chase & Co. makes up about 2.8% of Employees Provident Fund Board's investment portfolio, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Brighton Jones LLC lifted its stake 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 acquiring an additional 4,841 shares during the last quarter. Acorns Advisers LLC increased its position in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after purchasing an additional 100 shares during the last quarter. Ignite Planners LLC increased its position in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock valued at $3,185,000 after purchasing an additional 78 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $1,475,000. Finally, Betterment LLC raised its holdings in shares of JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock valued at $571,000 after purchasing an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $325.28 on Friday. The company's fifty day moving average price is $309.17 and its 200 day moving average price is $307.69. JPMorgan Chase & Co. has a 12 month low of $272.11 and a 12 month 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 firm has a market capitalization of $871.58 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.51 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) 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. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. JPMorgan Chase & Co.'s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.07 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 22.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.74%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,589 shares of company stock worth $8,747,496 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JPM. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a research note on Tuesday, May 12th. Piper Sandler raised their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Evercore lifted their price target on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Daiwa Securities Group lowered their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Finally, The Goldman Sachs Group set a $361.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, April 14th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $339.08.

More JPMorgan Chase & Co. News

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

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.

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