Journey Strategic Wealth LLC Has $6.59 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Journey Strategic Wealth LLC increased its stake in JPMorgan Chase & Co. by 29.3%, owning a total of 26,879 shares valued at approximately $6.59 million according to SEC filings.
• JPMorgan Chase & Co. reported earnings of $4.96 per share, surpassing estimates, with revenue of $44.91 billion for the quarter.
• The company recently announced a quarterly dividend of $1.40 per share, representing an annualized dividend yield of 1.87%.

Journey Strategic Wealth LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 29.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,879 shares of the financial services provider's stock after purchasing an additional 6,089 shares during the period. Journey Strategic Wealth LLC's holdings in JPMorgan Chase & Co. were worth $6,594,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $8,310,884,000. GAMMA Investing LLC grew its holdings in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Northern Trust Corp grew its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after acquiring an additional 2,551,899 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in JPMorgan Chase & Co. by 16.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after acquiring an additional 2,465,572 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of JPM stock traded down $7.03 during mid-day trading on Friday, reaching $289.21. 12,005,470 shares of the company were exchanged, compared to its average volume of 8,727,902. The company has a market capitalization of $803.74 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.00 and a beta of 1.11. The business's 50 day simple moving average is $280.47 and its 200 day simple moving average is $261.28. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.12 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insider Activity

In related news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the sale, the chief operating officer owned 68,583 shares in the company, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on JPM. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target for the company. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. Finally, Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.