JPMorgan Chase & Co. $JPM Stake Raised by Legato Capital Management LLC

Key Points

• Legato Capital Management boosted its JPMorgan Chase stake by 74.9% in the fourth quarter, ending with 16,344 shares valued at about $5.27 million.
• Institutional ownership of JPM remains high at 71.55%, and several other funds also recently increased their positions, underscoring broad investor interest in the stock.
• Analysts are mixed but still constructive overall: JPM has a Moderate Buy consensus with an average price target of $339.08, while the company also reported strong quarterly results, beating earnings and revenue expectations.

Legato Capital Management LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 74.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,344 shares of the financial services provider's stock after acquiring an additional 7,000 shares during the quarter. Legato Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $5,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Danske Bank A S bought a new stake in JPMorgan Chase & Co. in the third quarter worth about $696,885,000. American Assets Investment Management LLC raised its position in JPMorgan Chase & Co. by 1,172.2% in the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider's stock worth $728,024,000 after acquiring an additional 2,081,800 shares in the last quarter. Holocene Advisors LP raised its position in JPMorgan Chase & Co. by 1,033.3% in the third quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider's stock worth $679,790,000 after acquiring an additional 1,964,958 shares in the last quarter. Viking Global Investors LP raised its position in JPMorgan Chase & Co. by 86.1% in the second 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 in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $474,516,000. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

JPM has been the topic of several research reports. Barclays reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Daiwa Securities Group cut their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Zacks Research downgraded JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. DZ Bank restated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Robert W. Baird set a $295.00 target price on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average target price of $339.08.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan launched a new active ETF, JPMorgan Managed Futures Plus ETF (JPFP), expanding its asset-management lineup and adding another fee-generating product for the bank. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: Jamie Dimon said JPMorgan could deploy $10 billion to $20 billion on acquisitions, signaling that the bank has significant capital and flexibility to pursue earnings-accretive deals if the right opportunity appears. Jamie Dimon Says JPMorganChase on Lookout for Potential Acquisitions
• Positive Sentiment: JPMorgan also received favorable attention for its broader market and product franchise, including commentary that retail participation could rebound and support trading activity, which would benefit the bank’s markets business. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: Dimon said he is not especially worried about inflation, a frothy stock market, or cracks in private markets, but he also described current market enthusiasm as “exuberant” and reminiscent of prior bubble-like periods. That mixed message supports the idea that JPMorgan is cautious on the macro backdrop rather than signaling a direct business problem. These Are the Forces Jamie Dimon Says Are the ‘Biggest Thing' on His Mind These Days
• Neutral Sentiment: The bank’s recent earnings and valuation backdrop remain solid overall, with JPMorgan having beaten expectations last quarter, but the latest headlines are more about Dimon’s commentary and strategic optionality than a new fundamental catalyst.
• Negative Sentiment: Dimon’s repeated warnings that stocks are in “exuberant” territory and could echo past crash periods may be weighing on risk sentiment around JPMorgan and the broader financial sector. Stock Market Is in ‘Exuberant’ Territory, Warns Jamie Dimon
• Negative Sentiment: JPMorgan is also dealing with reputational overhang from the “salami incident” arbitration dispute, and the bank plans to challenge the $4.25 million award tied to a former advisor’s firing. While financially small, it adds unwanted headlines. The ‘Salami Incident' That Has JPMorgan Chase on the Hook for $4.25 Million

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 32,438 shares of the company's stock, valued at approximately $10,036,641.58. The trade was a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total value of $127,760.98. Following the completion of the sale, the insider directly 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,589 shares of company stock worth $8,747,496. 0.41% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.1%

Shares of NYSE JPM opened at $298.99 on Monday. The stock has a market cap of $801.14 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.46 and a beta of 1.00. The business has a 50 day simple moving average of $302.47 and a 200 day simple moving average of $306.71. JPMorgan Chase & Co. has a 52 week low of $260.31 and a 52 week 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 announced 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 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.07 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

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