4,407 Shares in JPMorgan Chase & Co. $JPM Acquired by Vericrest Private Wealth

Key Points

• Vericrest Private Wealth opened a new position in JPMorgan Chase, buying 4,407 shares valued at about $1.42 million. The stake makes JPMorgan its 21st largest holding and roughly 1.3% of its portfolio.
• Wall Street remains mixed but generally constructive on JPMorgan, with an average analyst rating of “Hold” and a consensus price target of $339.08. Several firms recently raised or trimmed targets, while the stock has 14 Buy and 15 Hold ratings.
• JPMorgan reported strong quarterly earnings, beating estimates with $5.94 EPS on $50.54 billion in revenue, and it also announced a quarterly dividend of $1.50 per share. The article also notes continued institutional interest, though insider selling and a DOJ probe tied to Iran-related transactions add some risk.

Vericrest Private Wealth acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,407 shares of the financial services provider's stock, valued at approximately $1,420,000. JPMorgan Chase & Co. comprises about 1.3% of Vericrest Private Wealth's investment portfolio, making the stock its 21st largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Morgan Stanley lifted its stake in shares of JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock valued at $21,390,662,000 after acquiring an additional 939,421 shares during the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth $11,396,496,000. Bank of New York Mellon Corp grew its position in JPMorgan Chase & Co. by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock worth $7,547,837,000 after acquiring an additional 1,194,583 shares during the last quarter. Legal & General Group Plc increased its holdings in JPMorgan Chase & Co. by 0.6% in the 4th 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. Finally, Fisher Asset Management LLC increased its holdings in JPMorgan Chase & Co. by 1.9% in the 4th 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. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the subject of several research reports. Daiwa Securities Group dropped their target price 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. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Evercore upped their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Finally, Jefferies Financial Group reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $339.08.

Key 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

JPMorgan Chase & Co. Stock Up 0.0%

Shares of NYSE:JPM opened at $325.28 on Monday. The firm has a market cap 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. has a 12-month low of $272.11 and a 12-month high of $338.09. The business has a fifty day simple moving average of $309.17 and a 200 day simple moving average of $307.68. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. The firm had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.During the same quarter in the previous year, the company posted $5.07 EPS. The business's revenue was up 10.0% on a year-over-year basis. Analysts predict that JPMorgan Chase & Co. will post 22.44 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 5,611 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares in the company, valued at approximately $10,870,263. The trade was a 13.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 company's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the completion of the sale, the chief operating officer directly owned 90,001 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 28,156 shares of company stock worth $8,619,735. 0.41% of the stock is currently owned by insiders.

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.

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