Choate Investment Advisors Increases Stake in JPMorgan Chase & Co. $JPM

Key Points

• Choate Investment Advisors boosted its JPMorgan Chase stake by 8.3% in the fourth quarter, ending with 139,509 shares worth about $44.95 million.
• JPMorgan reported strong quarterly results, with EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion versus $48.30 billion expected. Revenue rose 10% year over year.
• The bank announced a quarterly dividend of $1.50 per share, payable July 31, implying a $6.00 annualized payout and a 2.0% yield.

Choate Investment Advisors increased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 139,509 shares of the financial services provider's stock after purchasing an additional 10,726 shares during the period. JPMorgan Chase & Co. makes up about 0.9% of Choate Investment Advisors' holdings, making the stock its 19th biggest holding. Choate Investment Advisors' holdings in JPMorgan Chase & Co. were worth $44,952,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in JPM. Turning Point Benefit Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $35,000. Merrithew & Thorsten Inc purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $40,000. WHI TRUST Co LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $45,000. Cresta Advisors Ltd. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $48,000. Finally, Miller Global Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.6%

Shares of JPM opened at $301.32 on Wednesday. The stock has a market capitalization of $807.38 billion, a P/E ratio of 14.43, a PEG ratio of 1.45 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 fifty day simple moving average of $302.65 and a two-hundred day simple moving average of $306.58. JPMorgan Chase & Co. has a twelve month low of $260.31 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 business had revenue of $50.54 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.07 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is 28.74%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, 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 value of $2,800,732.16. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed 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, CFO Jeremy Barnum sold 5,611 shares of the company's stock in a transaction on 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 owned 35,460 shares of the company's stock, valued at $10,870,263. This trade represents a 13.66% 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. Company insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the subject of a number of research reports. Truist Financial upped their price objective 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. Dbs Bank raised shares of JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Finally, UBS Group dropped their price target on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $339.08.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan is being highlighted as a diversified, defensive stock outside the AI trade, which may attract investors looking for safety and quality in a rotation away from tech. Jim Cramer says look to buy these 5 stocks outside the AI trade for diversification
• Positive Sentiment: Analysts expect JPMorgan’s Q2 fee income to improve, supported by stronger markets revenue and investment banking fees, which could boost earnings expectations. JPMorgan's Bullish Q2 Outlook Highlights Fee Income Potential
• Positive Sentiment: JPMorgan expanded a $500 million fixed-to-floating notes offering, reinforcing its active capital markets franchise and funding flexibility. JPMorgan Chase Expands 2030 Fixed-to-Floating Notes Offering
• Neutral Sentiment: JPMorgan CEO Jamie Dimon reportedly flagged a possible $20 billion acquisition and continued European expansion, which keeps deal-making and growth optionality in focus but adds uncertainty on execution. JPMorgan Weighs US$20b Deal While Expanding In Europe And Crypto Debate
• Neutral Sentiment: Zacks noted that JPMorgan has recently been outperforming the market, reflecting continued investor confidence in the bank’s fundamentals. JPMorgan Chase & Co. (JPM) Exceeds Market Returns: Some Facts to Consider

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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