Evolve Private Wealth LLC Takes $15.96 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Evolve Private Wealth LLC initiated a new position in JPMorgan Chase, buying 49,545 shares valued at about $15.96 million. The stake represents roughly 0.9% of the firm’s holdings and is its 18th-largest position.
• JPMorgan’s latest quarterly results beat expectations, with EPS of $5.94 versus the $5.50 estimate and revenue of $50.54 billion topping forecasts. The bank also reported strong profitability, including a 17.54% return on equity.
• The company declared a quarterly dividend of $1.50 per share, or $6.00 annualized, implying a 1.8% yield. Meanwhile, analysts remain mixed overall, with MarketBeat showing a consensus rating of Hold and an average price target of $339.08.

Evolve Private Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 49,545 shares of the financial services provider's stock, valued at approximately $15,964,000. JPMorgan Chase & Co. makes up about 0.9% of Evolve Private Wealth LLC's holdings, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock valued at $21,390,662,000 after purchasing an additional 939,421 shares in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $11,396,496,000. Bank of New York Mellon Corp lifted its holdings in JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock valued at $7,547,837,000 after purchasing an additional 1,194,583 shares in the last quarter. Legal & General Group Plc lifted its holdings in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock valued at $6,128,484,000 after purchasing an additional 110,586 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider's stock valued at $5,161,532,000 after purchasing an additional 296,213 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s Chase digital bank is reportedly expanding deeper into Europe, which could open a new long-term retail growth channel beyond the U.S. JPMorgan Chase (JPM) Expands Chase Digital Bank Across Europe In Five Year Push
• Positive Sentiment: JPMorgan has been highlighted as a leadership name in financials, with chart-focused coverage suggesting the stock’s uptrend may still have room to continue. Chart of the Day: JPMorgan’s Bull Market May Be Far From Over
• Positive Sentiment: Rising short-term Treasury yields after hawkish Fed messaging support the outlook for banks by improving lending spreads and reinforcing a higher-for-longer rate environment. Traders Fully Price in a Rate Hike by October on Hawkish Fed
• Neutral Sentiment: The broader financial sector was mixed to slightly softer late in the day, which could temper some of the gains in bank shares. Sector Update: Financial Stocks Softer Late Afternoon
• Neutral Sentiment: JPMorgan and other financial firms were named in an Epstein-related records preservation request, but this appears more like a legal headline than a direct fundamental catalyst for JPM stock. Market Chatter: JPMorgan, Google Among Firms Asked to Preserve Records in Epstein Ranch Investigation
• Negative Sentiment: Potentially higher borrowing costs from the Fed’s hawkish tone could also pressure parts of the economy and weigh on rate-sensitive sentiment if investors worry about slower loan growth or credit quality. Bond Rally Fails to Allay Higher-for-Longer Global Rates Threat

JPMorgan Chase & Co. Stock Up 0.7%

NYSE JPM opened at $333.45 on Thursday. JPMorgan Chase & Co. has a 52 week low of $269.72 and a 52 week high of $337.77. 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 business's fifty day simple moving average is $308.27 and its 200-day simple moving average is $307.48. The firm has a market cap of $893.47 billion, a PE ratio of 15.97, a P/E/G ratio of 1.62 and a beta of 1.00.

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. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the previous year, the firm earned $5.07 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is currently 28.74%.

Analyst Ratings Changes

A number of research analysts have weighed in on JPM shares. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Daiwa Securities Group decreased their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. UBS Group decreased their price objective on JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Evercore raised their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Finally, Barclays restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $339.08.

Insider Buying and Selling

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

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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