JPMorgan Chase & Co. $JPM Shares Bought by Apella Capital LLC

Key Points

• Apella Capital LLC increased its stake in JPMorgan Chase by 70.3% in the first quarter, ending with 37,770 shares valued at about $11.72 million.
• JPMorgan recently passed the Federal Reserve’s stress test, and its board approved a 10% dividend increase plus a new $50 billion share buyback, signaling strong capital strength and confidence in earnings.
• The company reported better-than-expected quarterly results, with EPS of $5.94 and revenue of $50.54 billion; analysts currently rate the stock a consensus Hold with an average target price of $339.58.

Apella Capital LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 70.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,770 shares of the financial services provider's stock after purchasing an additional 15,590 shares during the period. Apella Capital LLC's holdings in JPMorgan Chase & Co. were worth $11,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Consilium Wealth Advisory LLC increased its position in shares of JPMorgan Chase & Co. by 27.3% in the first quarter. Consilium Wealth Advisory LLC now owns 15,610 shares of the financial services provider's stock valued at $4,592,000 after buying an additional 3,344 shares in the last quarter. Focused Wealth Management Inc lifted its position in shares of JPMorgan Chase & Co. by 11.1% during the 1st quarter. Focused Wealth Management Inc now owns 15,485 shares of the financial services provider's stock valued at $4,555,000 after buying an additional 1,545 shares in the last quarter. Keudell Morrison Wealth Management grew its stake in JPMorgan Chase & Co. by 6.6% in the 1st quarter. Keudell Morrison Wealth Management now owns 9,474 shares of the financial services provider's stock valued at $2,787,000 after acquiring an additional 590 shares during the period. Weaver Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 0.7% in the 1st quarter. Weaver Capital Management LLC now owns 18,389 shares of the financial services provider's stock worth $5,409,000 after acquiring an additional 132 shares in the last quarter. Finally, Brave Asset Management Inc. increased its holdings in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Brave Asset Management Inc. now owns 48,165 shares of the financial services provider's stock worth $14,168,000 after acquiring an additional 361 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Thursday. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $332.00 to $344.00 and gave the stock a "hold" rating in a research note on Friday. Dbs Bank raised shares of JPMorgan Chase & Co. to a "hold" rating in a research note on Tuesday, May 12th. Evercore boosted their price target on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Finally, Autonomous Res dropped 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 research note on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and an average target price of $339.58.

Insider Buying and Selling

In other news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer directly owned 32,438 shares in the company, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the 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 sale, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% 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 33,623 shares of company stock valued at $10,427,835 in the last ninety days. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.9%

JPMorgan Chase & Co. stock opened at $328.73 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $343.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a 50 day moving average price of $311.44 and a 200 day moving average price of $308.42. The company has a market capitalization of $880.83 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00.

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, topping analysts' consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.07 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 22.44 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.'s payout ratio is 28.74%.

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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