Ethic Inc. Buys 7,995 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Ethic Inc. increased its JPMorgan Chase position by 11.8% in the fourth quarter, buying 7,995 additional shares to bring its total holding to 75,697 shares worth about $24.4 million.
• JPMorgan reported better-than-expected quarterly results, with earnings per share of $5.94 versus $5.50 expected and revenue of $50.54 billion, up 10% year over year.
• The bank continues to return capital to shareholders, paying a $1.50 quarterly dividend and annualizing to $6.00 per share for a 2.0% yield, while analysts currently rate the stock a Moderate Buy with a consensus target price of $338.12.

Ethic Inc. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,697 shares of the financial services provider's stock after purchasing an additional 7,995 shares during the quarter. Ethic Inc.'s holdings in JPMorgan Chase & Co. were worth $24,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of JPM. Mountain Hill Investment Partners Corp. purchased a new position in JPMorgan Chase & Co. in the third quarter worth about $32,000. Turning Point Benefit Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $35,000. Merrithew & Thorsten Inc bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. Cresta Advisors Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $48,000. Finally, Miller Global Investments LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $52,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.0%

JPM stock opened at $297.93 on Monday. JPMorgan Chase & Co. has a 1-year low of $256.00 and a 1-year high of $337.25. The business has a fifty day moving average price of $299.67 and a 200-day moving average price of $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. The stock has a market capitalization of $798.31 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.45 and a beta of 1.03.

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 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the previous year, the business earned $5.07 earnings per share. The company's revenue was up 10.0% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 22.43 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Buying and Selling

In related news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares of the company's stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total value of $15,355,500.00. Following the completion of the sale, the chief executive officer directly owned 111,279 shares of the company's stock, valued at $34,174,893.69. The trade was a 31.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 79,849 shares of company stock valued at $24,522,956 over the last ninety days. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JPM. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Wells Fargo & Company decreased their price target on JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating for the company in a research note on Tuesday, February 17th. Truist Financial boosted their price target on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a research note on Wednesday, April 15th. DZ Bank restated a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group restated a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $338.12.

More JPMorgan Chase & Co. News

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

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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