Flputnam Investment Management Co. Has $107.93 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Flputnam Investment Management Co. increased its JPMorgan Chase stake by 2.9% in the fourth quarter, bringing its holdings to 334,968 shares valued at about $107.9 million. JPMorgan now makes up roughly 1.6% of the firm’s portfolio and is its 11th largest position.
• JPMorgan reported strong quarterly results, with EPS of $5.94 beating expectations and revenue of $50.54 billion topping estimates. The company also posted year-over-year revenue growth of 10.0% and plans to pay a quarterly dividend of $1.50 per share.
• Analyst sentiment remains mixed but generally cautious, with 14 Buy ratings and 15 Hold ratings and a consensus target price of $339.08. Meanwhile, insiders have been selling shares, including General Counsel Stacey Friedman’s recent Rule 10b5-1 sale.

Flputnam Investment Management Co. boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 334,968 shares of the financial services provider's stock after purchasing an additional 9,520 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.6% of Flputnam Investment Management Co.'s portfolio, making the stock its 11th biggest position. Flputnam Investment Management Co.'s holdings in JPMorgan Chase & Co. were worth $107,933,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter worth about $35,000. Merrithew & Thorsten Inc bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $40,000. WHI TRUST Co LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $45,000. Cresta Advisors Ltd. bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $48,000. Finally, Miller Global Investments LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity

In related news, General Counsel Stacey Friedman sold 5,468 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the firm's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the sale, the insider owned 64,920 shares of the company's stock, valued at $19,155,295.20. This trade represents a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 28,589 shares of company stock valued at $8,747,496. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: Jamie Dimon is personally promoting SpaceX’s expected blockbuster IPO to 2,500 ultra-wealthy JPMorgan clients, highlighting JPMorgan’s ability to win marquee mandates and generate advisory and placement fees. Reuters article on Dimon discussing SpaceX IPO roadshow
• Positive Sentiment: Reports say JPMorgan is also looking at acquisition opportunities, with CEO Jamie Dimon previously suggesting the bank could deploy $10 billion to $20 billion for a deal, which could support growth if executed well. Yahoo Finance article on acquisition opportunities
• Neutral Sentiment: JPMorgan and other major banks are planning a tokenized deposit system to compete with stablecoins and crypto firms, a longer-term strategic move that could help defend the payments business but is not an immediate earnings driver. WSJ article on tokenized deposit system
• Neutral Sentiment: JPMorgan disclosed that some affiliated entities exited a substantial holder position in PLS Group and increased a stake in a2 Milk, but these are portfolio actions by affiliates and are unlikely to move JPMorgan’s shares meaningfully. TipRanks article on PLS Group filing
• Negative Sentiment: Some commentary from JPMorgan has warned that the crypto-focused CLARITY Act faces a narrow path to passage, underscoring ongoing policy uncertainty in an area the bank is watching closely. Benzinga article on CLARITY Act timing

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a report on Wednesday, April 15th. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Zacks Research downgraded JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. HSBC upped 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 report on Monday, May 4th. Finally, Evercore upped their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. 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, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus target price of $339.08.

JPMorgan Chase & Co. Trading Up 3.4%

JPMorgan Chase & Co. stock opened at $310.99 on Friday. The firm has a 50-day moving average of $303.54 and a 200-day moving average of $306.44. JPMorgan Chase & Co. has a one year low of $260.31 and a one year high of $337.25. 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 company has a market cap of $833.29 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.47 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the prior year, the business posted $5.07 EPS. The company's quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.74%.

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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