33,485 Shares in JPMorgan Chase & Co. $JPM Purchased by Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust

Key Points

• Retail Employees Superannuation Trust initiated a new position in JPMorgan Chase, buying 33,485 shares valued at about $10.8 million. The stake represents roughly 2.9% of its holdings and makes JPM its 14th largest position.
• Institutional ownership remains heavy, with 71.55% of JPMorgan shares held by institutions. Other large investors, including Legal & General, Fisher Asset Management, and Invesco, also increased their positions.
• JPMorgan beat quarterly earnings expectations, reporting $5.94 EPS on $50.54 billion in revenue, and it also declared a quarterly dividend of $1.50 per share. Analysts currently have a consensus rating of Hold with an average target price of $339.08.

Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,485 shares of the financial services provider's stock, valued at approximately $10,790,000. JPMorgan Chase & Co. makes up about 2.9% of Retail Employees Superannuation Pty Ltd as trustee for Retail Employees Superannuation Trust's holdings, making the stock its 14th largest position.

Other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock worth $6,128,484,000 after purchasing an additional 110,586 shares in the last quarter. Fisher Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider's stock worth $5,161,532,000 after purchasing an additional 296,213 shares in the last quarter. Invesco Ltd. raised its holdings in JPMorgan Chase & Co. by 2.3% in the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock worth $4,622,675,000 after purchasing an additional 322,735 shares in the last quarter. Boston Partners raised its holdings in JPMorgan Chase & Co. by 2.3% in the third quarter. Boston Partners now owns 7,492,763 shares of the financial services provider's stock worth $2,360,045,000 after purchasing an additional 168,184 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in JPMorgan Chase & Co. by 19.6% in the third quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider's stock worth $2,086,806,000 after purchasing an additional 1,082,913 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares in the company, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares of the company's stock, valued at $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. 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 valued at $8,747,496 over the last quarter. Corporate insiders own 0.41% of the company's stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Jamie Dimon is personally helping pitch SpaceX’s blockbuster IPO to thousands of JPMorgan’s wealthy clients, highlighting the bank’s influence in capital markets and potentially boosting fee income. Reuters article on Dimon and SpaceX IPO roadshow
• Positive Sentiment: The bank is backing a shared tokenized deposit network with other major U.S. lenders, a move that could strengthen JPMorgan’s payments and digital-asset infrastructure position versus stablecoin rivals. WSJ article on tokenized deposit system
• Positive Sentiment: Jim Cramer publicly called JPMorgan “the best bank in the world” and said investors can “buy it and put it away,” reinforcing a constructive market view of the stock. Yahoo Finance article on Jim Cramer
• Neutral Sentiment: News that JPMorgan is using its branch network and client base to promote SpaceX underscores its scale and wealth-management reach, but the impact on near-term earnings is uncertain. Benzinga article on SpaceX IPO promotion
• Neutral Sentiment: Separate headlines noted JPMorgan is evaluating acquisition opportunities and may have $10 billion to $20 billion available for a deal, which could be accretive but also adds execution risk. Yahoo Finance article on acquisition opportunities
• Negative Sentiment: JPMorgan also warned that the crypto industry’s CLARITY Act has a narrowing path to passage, which could slow regulatory progress for digital-asset businesses. Benzinga article on CLARITY Act timing

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on JPM shares. Zacks Research downgraded JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. UBS Group decreased their target price on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Barclays reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Finally, Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a research note on Wednesday, April 15th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $339.08.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $312.95 on Friday. The company has a market capitalization of $838.54 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.52 and a beta of 1.00. 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 firm has a 50 day moving average of $303.89 and a 200 day moving average of $306.49. JPMorgan Chase & Co. has a twelve month low of $262.71 and a twelve month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share 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%. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.07 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.74%.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.