Fifth Third Wealth Advisors LLC Grows Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in JPMorgan Chase by 7.7% in the first quarter, adding 10,034 shares to bring its total holdings to 141,112 shares worth about $41.5 million.
• JPMorgan continues to attract institutional interest, with hedge funds and other investors owning 71.55% of the stock overall. Several large firms also boosted or initiated positions in the bank during the latest reporting periods.
• Analysts remain mixed on JPM, but recent company news has been positive: it cleared the Federal Reserve stress test, approved a 10% dividend increase, and authorized a $50 billion share buyback, underscoring confidence in its capital strength and earnings power.

Fifth Third Wealth Advisors LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,112 shares of the financial services provider's stock after acquiring an additional 10,034 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of Fifth Third Wealth Advisors LLC's investment portfolio, making the stock its 12th largest holding. Fifth Third Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $41,509,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Morgan Stanley grew its holdings in JPMorgan Chase & Co. by 1.4% during 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 acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth $11,396,496,000. Bank of New York Mellon Corp boosted its position 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 buying an additional 1,194,583 shares during the last quarter. Legal & General Group Plc boosted its position 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 buying an additional 110,586 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.9% during the fourth 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 acquiring an additional 296,213 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JPM. Barclays reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Argus raised their price objective on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a report on Wednesday, April 15th. UBS Group cut their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Hold" and an average price target of $339.58.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares of the company's stock, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company's stock, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,623 shares of company stock worth $10,427,835 over the last 90 days. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Trading Down 1.9%

NYSE:JPM opened at $328.73 on Friday. The company has a market cap of $880.83 billion, a PE ratio of 15.74, a P/E/G ratio of 1.56 and a beta of 1.00. The business's 50 day moving average is $311.44 and its two-hundred day moving average is $308.42. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.07 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 22.44 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.8%. JPMorgan Chase & Co.'s payout ratio is presently 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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