JPMorgan Chase & Co. $JPM Shares Acquired by Plan Group Financial LLC

Key Points

• Plan Group Financial LLC boosted its JPMorgan Chase stake by 516.9% in the fourth quarter, ending with 38,974 shares worth about $12.6 million.
• JPMorgan reported strong quarterly results, posting EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion, both ahead of Wall Street expectations.
• The bank raised its quarterly dividend to $1.50 per share, or $6.00 annually, for a yield of about 2.0%.

Plan Group Financial LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 516.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,974 shares of the financial services provider's stock after buying an additional 32,656 shares during the quarter. JPMorgan Chase & Co. comprises 3.3% of Plan Group Financial LLC's portfolio, making the stock its 5th largest position. Plan Group Financial LLC's holdings in JPMorgan Chase & Co. were worth $12,558,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Legal & General Group Plc grew its stake in shares of JPMorgan Chase & Co. by 3.3% in the third quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider's stock valued at $5,964,459,000 after buying an additional 607,025 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.3% in the third quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider's stock valued at $4,959,330,000 after buying an additional 347,033 shares in the last quarter. Invesco Ltd. grew its stake in shares of JPMorgan Chase & Co. by 2.3% in the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock valued at $4,622,675,000 after buying an additional 322,735 shares in the last quarter. Boston Partners boosted its holdings in JPMorgan Chase & Co. by 2.3% in the third quarter. Boston Partners now owns 7,492,763 shares of the financial services provider's stock valued at $2,360,045,000 after purchasing an additional 168,184 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in JPMorgan Chase & Co. by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,809,417 shares of the financial services provider's stock valued at $2,147,894,000 after purchasing an additional 31,421 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.7%

NYSE:JPM opened at $297.93 on Friday. 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 50 day moving average is $299.67 and its two-hundred day moving average is $307.32. JPMorgan Chase & Co. has a 52 week low of $256.00 and a 52 week high of $337.25. The company has a market cap of $798.31 billion, a PE ratio of 14.27, a P/E/G ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results 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 return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter last year, the business posted $5.07 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 22.42 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

JPMorgan Chase & Co. News Roundup

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 Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 5,611 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares of the company's stock, valued at $10,870,263. This trade represents a 13.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the stock in a transaction that occurred 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 directly 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 a total of 79,849 shares of company stock worth $24,522,956 over the last quarter. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on JPM shares. Daiwa Securities Group reduced their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Piper Sandler increased their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Jefferies Financial Group reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. UBS Group reduced their price target on JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Finally, Evercore increased their price target on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $338.12.

JPMorgan Chase & Co. Company 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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