Burkett Asset Management Ltd Makes New Investment in JPMorgan Chase & Co. $JPM

Key Points

• Burkett Asset Management disclosed a new fourth-quarter position in JPMorgan Chase, buying 3,335 shares valued at about $1.075 million. The stake represents roughly 1.1% of its portfolio and makes JPM its 27th-largest holding.
• JPMorgan’s latest quarterly results beat expectations, with EPS of $5.94 versus the $5.50 consensus and revenue of $50.54 billion, up 10% from a year earlier. The bank also announced a quarterly dividend of $1.50 per share, or $6.00 annualized.
• Sentiment around the stock remains mixed: analysts currently have a Hold consensus, while insiders have been selling shares and the bank faces potential risks from a DOJ subpoena tied to a “debanking” investigation. However, JPM also continues to draw attention for global expansion and digital-asset initiatives.

Burkett Asset Management Ltd bought a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,335 shares of the financial services provider's stock, valued at approximately $1,075,000. JPMorgan Chase & Co. makes up about 1.1% of Burkett Asset Management Ltd's investment portfolio, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of JPM. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $35,000. Merrithew & Thorsten Inc acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $40,000. WHI TRUST Co LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $45,000. Cresta Advisors Ltd. acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $48,000. Finally, Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $52,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s global expansion remains a positive, including reports that it has deployed $20 billion in the Gulf and doubled its private bankers in Singapore, signaling continued growth in wealth management and international banking. Article: JP Morgan deploys $20bn in Gulf and says postwar rebuild may cost hundreds of billions
• Positive Sentiment: The company continues to benefit from investor optimism around higher-for-longer rates after hotter inflation data, which can support bank lending margins and trading activity. Article: May Inflation Hits 4.2% as Energy Prices Surge, Raising Pressure on Federal Reserve
• Positive Sentiment: JPMorgan’s involvement in tokenized treasuries and digital-asset market infrastructure suggests it is positioned to benefit if regulated crypto adoption continues to grow. Article: Tokenized Treasuries Are Moving Onto the XRP Ledger
• Neutral Sentiment: Jamie Dimon’s comments on Mexico’s economy and trade highlight JPMorgan’s active role in global corporate and sovereign banking, but the direct stock impact is limited. Article: JPMorgan’s Jamie Dimon Praises the Mexican Economy
• Neutral Sentiment: JPMorgan also had several analyst-related headlines on other companies, but these are mostly read-throughs and do not materially change the bank’s own outlook. Article: Coherent and Lumentum just got more attractive, according to J.P. Morgan
• Negative Sentiment: The DOJ has subpoenaed JPMorgan in a widening “debanking” investigation, creating a potential legal and reputational risk for the bank. Article: US Justice Department subpoenas major banks over alleged 'debanking'
• Negative Sentiment: JPMorgan and other banks also lost a lawsuit over alleged missed red flags at Tricolor, which may keep credit-risk concerns in focus. Article: JPMorgan, Barclays, Fifth Third defeat lawsuit over missed 'red flags' at Tricolor

Insider Buying and Selling

In other news, CFO Jeremy Barnum sold 5,611 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the completion of the transaction, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares of the company's stock, valued at $27,590,706.56. This trade represents a 9.22% 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 28,589 shares of company stock valued at $8,747,496 over the last three months. 0.41% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on JPM. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Autonomous Res lowered their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a report on Monday, April 6th. Wells Fargo & Company lowered their target price on JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating for the company in a report on Tuesday, February 17th. UBS Group lowered their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, February 24th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $339.08.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $313.85 on Friday. JPMorgan Chase & Co. has a 1 year low of $262.71 and a 1 year high of $337.25. 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 company has a market capitalization of $840.97 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. The business has a 50-day moving average of $305.78 and a 200-day moving average of $306.87.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period last year, the company earned $5.07 earnings per share. The firm's revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current 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 given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.74%.

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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