JPMorgan Chase & Co. $JPM Shares Bought by Violich Capital Management Inc.

Key Points

• Violich Capital Management increased its JPMorgan Chase stake by 33.5% in the fourth quarter, buying 7,090 additional shares and bringing its total to 28,265 shares valued at about $9.1 million.
• JPMorgan’s latest quarterly earnings beat expectations, with EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion, up 10% year over year. Analysts continue to view the stock favorably, with a consensus rating of Moderate Buy and a target price of $338.12.
• The company also returned cash to shareholders via a $1.50 quarterly dividend and saw insider selling, including CEO Troy L. Rohrbaugh’s sale of 50,000 shares earlier this year. Institutional investors still own a large majority of the stock, at 71.55%.

Violich Capital Management Inc. boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 33.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,265 shares of the financial services provider's stock after buying an additional 7,090 shares during the period. JPMorgan Chase & Co. accounts for 1.0% of Violich Capital Management Inc.'s investment portfolio, making the stock its 21st largest position. Violich Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $9,108,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mountain Hill Investment Partners Corp. purchased a new stake in JPMorgan Chase & Co. in the third quarter valued at $32,000. Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. in the third quarter valued at $35,000. Cresta Advisors Ltd. purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $48,000. Miller Global Investments LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $52,000. Finally, Collier Financial purchased a new stake in JPMorgan Chase & Co. in the third quarter valued at $60,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Daiwa Securities Group reduced their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Sunday, January 18th. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Finally, Barclays reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $338.12.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $297.93 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $798.31 billion, a PE ratio of 14.27, a P/E/G ratio of 1.45 and a beta of 1.03. JPMorgan Chase & Co. has a 12-month low of $256.00 and a 12-month high of $337.25. The business's fifty day moving average price is $299.67 and its 200 day moving average price is $307.35.

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 the consensus estimate 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 firm had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same period in the previous year, the firm posted $5.07 EPS. JPMorgan Chase & Co.'s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.43 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Activity

In related news, CEO Troy L. Rohrbaugh sold 50,000 shares of the business's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the completion of the transaction, the chief executive officer directly owned 111,279 shares of the company's stock, valued at $34,174,893.69. The trade was a 31.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robin Leopold sold 433 shares of the business's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following 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. The SEC filing for this sale provides additional information. Insiders sold a total of 79,849 shares of company stock worth $24,522,956 over the last three months. Company insiders own 0.41% of the company's stock.

Key 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

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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