Channel Wealth LLC Grows Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Channel Wealth LLC increased its JPMorgan Chase stake by 69.4% in the fourth quarter, buying 7,884 additional shares and bringing its total holding to 19,248 shares worth about $6.2 million.
• Other institutional investors also added to JPM positions, and hedge funds and other institutions now own 71.55% of the company’s stock, showing continued broad support from large investors.
• JPMorgan’s latest results were strong, with Q1 earnings of $5.94 per share and revenue of $50.54 billion, both above estimates; analysts currently rate the stock a Moderate Buy with an average price target of $338.12.

Channel Wealth LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 69.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,248 shares of the financial services provider's stock after purchasing an additional 7,884 shares during the quarter. JPMorgan Chase & Co. comprises about 1.6% of Channel Wealth LLC's investment portfolio, making the stock its 20th largest position. Channel Wealth LLC's holdings in JPMorgan Chase & Co. were worth $6,202,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Costello Asset Management INC raised its stake in JPMorgan Chase & Co. by 45.5% during the fourth quarter. Costello Asset Management INC now owns 7,731 shares of the financial services provider's stock valued at $2,491,000 after purchasing an additional 2,418 shares in the last quarter. Capital City Trust Co. FL raised its stake in JPMorgan Chase & Co. by 3.3% during the fourth quarter. Capital City Trust Co. FL now owns 20,244 shares of the financial services provider's stock valued at $6,523,000 after purchasing an additional 651 shares in the last quarter. Carlson Capital L.P. raised its stake in JPMorgan Chase & Co. by 24.4% during the fourth quarter. Carlson Capital L.P. now owns 5,100 shares of the financial services provider's stock valued at $1,643,000 after purchasing an additional 1,000 shares in the last quarter. Pearl Planning LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $261,000. Finally, Indie Asset Partners LLC raised its stake in JPMorgan Chase & Co. by 5.3% during the fourth quarter. Indie Asset Partners LLC now owns 3,963 shares of the financial services provider's stock valued at $1,277,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. DZ Bank reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. HSBC increased their target price on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Finally, UBS Group reduced their target price on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $338.12.

Insider Buying and Selling

In related news, CFO Jeremy Barnum sold 5,611 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $10,870,263. This trade represents a 13.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the firm's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the completion of the transaction, the chief executive officer directly owned 111,279 shares in the company, valued at $34,174,893.69. This represents a 31.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,849 shares of company stock worth $24,522,956 over the last ninety days. 0.41% of the stock is owned by insiders.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan's bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

JPMorgan Chase & Co. Trading Up 0.0%

JPM stock opened at $297.93 on Monday. The company has a market capitalization of $798.31 billion, a PE ratio of 14.27, a P/E/G ratio of 1.45 and a beta of 1.03. JPMorgan Chase & Co. has a 12 month low of $256.00 and a 12 month high of $337.25. The firm's 50-day moving average is $299.67 and its 200 day moving average is $307.35. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion for 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 revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.07 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 22.43 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, April 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.74%.

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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