Allstate Corp Acquires 108,719 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Allstate Corp more than doubled its stake in JPMorgan Chase during the fourth quarter, buying an additional 108,719 shares and bringing its total holding to 209,983 shares valued at about $67.7 million.
• JPMorgan continues to attract strong institutional interest, with hedge funds and other institutional investors owning 71.55% of the stock overall. Several major firms also increased their positions during the period.
• Wall Street remains mixed on JPMorgan: analysts currently assign an average “Hold” rating with a consensus price target of $339.08, even as the bank recently posted stronger-than-expected quarterly earnings and revenue growth.

Allstate Corp increased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 107.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 209,983 shares of the financial services provider's stock after buying an additional 108,719 shares during the period. JPMorgan Chase & Co. accounts for 0.9% of Allstate Corp's investment portfolio, making the stock its 19th biggest position. Allstate Corp's holdings in JPMorgan Chase & Co. were worth $67,661,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of JPM. Legal & General Group Plc boosted its holdings in shares of 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 acquiring an additional 110,586 shares during the period. Fisher Asset Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.9% during 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. Invesco Ltd. lifted its holdings in JPMorgan Chase & Co. by 2.3% during the 3rd 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 boosted its stake in JPMorgan Chase & Co. by 2.3% in the 3rd 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 during the period. Finally, California Public Employees Retirement System grew its holdings in JPMorgan Chase & Co. by 19.6% during the 3rd quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider's stock valued at $2,086,806,000 after buying an additional 1,082,913 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore increased their price target on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. DZ Bank reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a research note on Wednesday, April 15th. Finally, Argus raised their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Fourteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $339.08.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan is helping arrange a roughly $1 billion financing package for Transportadora de Gas del Sur’s Vaca Muerta project in Argentina, reinforcing the bank’s role in large-scale global lending and fee-generating deals. Santander, JPMorgan to Back $1 Billion TGS Vaca Muerta Financing
• Positive Sentiment: CEO Jamie Dimon plans to discuss SpaceX’s upcoming IPO with JPMorgan’s ultra-wealthy clients, which highlights the bank’s access to major investment-banking opportunities and affluent customer relationships. JPMorgan's Dimon to discuss SpaceX IPO roadshow with ultra-rich clients, Bloomberg News reports
• Positive Sentiment: JPMorgan continues to be cited as a defensive, diversified financial stock as investors look beyond the AI trade, supporting the view that it remains a core large-cap banking name. Jim Cramer says look to buy these 5 stocks outside the AI trade for diversification
• Neutral Sentiment: JPMorgan expanded its 2030 fixed-to-floating notes offering with a $500 million public deal, reflecting active funding management but not a major surprise for investors. JPMorgan Chase Expands 2030 Fixed-to-Floating Notes Offering
• Neutral Sentiment: JPMorgan also drew attention for CEO Jamie Dimon’s comments about a possible large acquisition and the bank’s push into Europe and crypto-related policy debate, but these are longer-term strategic themes rather than immediate catalysts. JPMorgan Weighs US$20b Deal While Expanding In Europe And Crypto Debate
• Negative Sentiment: More broadly, financial stocks sold off in late-afternoon trading, which likely pressured JPMorgan shares along with the rest of the sector. Sector Update: Financial Stocks Decline Late Afternoon
• Negative Sentiment: JPMorgan’s public criticism of the CLARITY Act and broader crypto regulation debate could create some headline risk, though the direct stock impact appears limited for now. CLARITY Act At The Center Of Latest Political Clash: Sen. Lummis Hits Back At JPMorgan CEO

JPMorgan Chase & Co. Stock Up 0.0%

JPM stock opened at $301.06 on Thursday. The company's 50 day moving average is $303.16 and its 200 day moving average is $306.39. The stock has a market cap of $806.70 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 1-year low of $260.31 and a 1-year high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results 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 business had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. During the same period in the previous year, the business posted $5.07 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was up 10.0% on a year-over-year basis. Sell-side analysts predict that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is currently 28.74%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 9,136 shares of the firm'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 sale, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. This trade represents a 9.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the sale, the insider directly owned 64,920 shares of the company's stock, valued at approximately $19,155,295.20. This trade represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,589 shares of company stock valued at $8,747,496 over the last ninety days. 0.41% of the stock is currently owned by insiders.

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.

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