Investment House LLC Acquires 5,037 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Investment House LLC boosted its JPMorgan Chase stake by 33.6% in the fourth quarter, buying 5,037 additional shares and bringing its total holding to 20,018 shares worth about $6.45 million.
• JPMorgan’s latest quarterly results topped expectations, with EPS of $5.94 and revenue of $50.54 billion, while the company also announced a $1.50 quarterly dividend payable July 31.
• Analysts remain mixed but broadly constructive on the stock: JPMorgan has a consensus rating of “Moderate Buy” and an average price target of $339.08, even as some firms trimmed or raised their targets.

Investment House LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 33.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,018 shares of the financial services provider's stock after buying an additional 5,037 shares during the period. Investment House LLC's holdings in JPMorgan Chase & Co. were worth $6,450,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Danske Bank A S purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at approximately $696,885,000. American Assets Investment Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1,172.2% in the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider's stock worth $728,024,000 after buying an additional 2,081,800 shares in the last quarter. Holocene Advisors LP raised its holdings in JPMorgan Chase & Co. by 1,033.3% during the 3rd quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider's stock valued at $679,790,000 after buying an additional 1,964,958 shares during the period. Viking Global Investors LP lifted its holdings in shares of JPMorgan Chase & Co. by 86.1% in the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider's stock worth $1,171,826,000 after acquiring an additional 1,870,386 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $474,516,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Stacey Friedman sold 5,468 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares of the company's stock, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of JPMorgan Chase & Co. stock in a transaction dated 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 of the company's stock, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,589 shares of company stock worth $8,747,496 over the last quarter. Insiders own 0.41% 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: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
• Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
• Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident' That Has JPMorgan Chase on the Hook for $4.25 Million

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Autonomous Res decreased their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a report on Monday, April 6th. Evercore boosted their price target on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Robert W. Baird set a $295.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. HSBC upped their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Finally, Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus target price of $339.08.

JPMorgan Chase & Co. Stock Down 0.9%

JPMorgan Chase & Co. stock opened at $296.53 on Friday. The stock's fifty day moving average is $302.25 and its two-hundred day moving average is $306.84. JPMorgan Chase & Co. has a 1-year low of $260.31 and a 1-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 stock has a market cap of $794.56 billion, a PE ratio of 14.20, a P/E/G ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (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 analysts' expectations 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 revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.07 EPS. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.