Harel Insurance Investments & Financial Services Ltd. Buys 158,806 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Harel Insurance Investments & Financial Services dramatically increased its JPMorgan Chase stake by 1,094.2% in the fourth quarter, buying 158,806 additional shares. The fund ended the period with 173,319 shares valued at about $55.8 million.
• JPMorgan reported strong quarterly results, posting $5.94 in EPS versus expectations of $5.50 and revenue of $50.54 billion versus estimates of $48.30 billion. Revenue rose 10% year over year, and analysts now expect full-year EPS of 22.42.
• Analyst sentiment remains mixed but constructive: JPM has a consensus rating of “Moderate Buy” with a target price of $338.12. The stock traded at $297.93, while the company also paid a quarterly dividend of $1.50 per share, equal to a 2.0% yield.

Harel Insurance Investments & Financial Services Ltd. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1,094.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 173,319 shares of the financial services provider's stock after purchasing an additional 158,806 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in JPMorgan Chase & Co. were worth $55,843,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC grew its holdings in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Acorns Advisers LLC grew its holdings in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after acquiring an additional 100 shares in the last quarter. Ignite Planners LLC grew its holdings in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock worth $3,185,000 after acquiring an additional 78 shares in the last quarter. Jump Financial LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth about $1,475,000. Finally, Betterment LLC grew its holdings in JPMorgan Chase & Co. by 27.5% during the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock worth $571,000 after acquiring an additional 425 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a report on Tuesday. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Sunday, January 18th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Finally, Argus increased their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $338.12.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $297.93 on Friday. The firm has a market cap of $798.31 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.46 and a beta of 1.03. The firm has a 50-day simple moving average of $299.67 and a two-hundred day simple moving average of $307.32. JPMorgan Chase & Co. has a one year low of $256.00 and a one year high of $337.25. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS 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 analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.07 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

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

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,404 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total value of $1,042,985.60. Following the completion of the transaction, the general counsel directly owned 61,949 shares of the company's stock, valued at $18,981,173.60. This trade represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robin Leopold sold 433 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 64,920 shares of the company's stock, valued at $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 79,849 shares of company stock valued at $24,522,956. 0.41% of the stock is currently owned by corporate insiders.

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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