Princeton Capital Management LLC Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Princeton Capital Management LLC increased its stake in JPMorgan Chase & Co. by 13.3%, bringing its total holdings to nearly 19,000 shares valued at approximately $4.66 million.
• JPMorgan's latest quarterly earnings surpassed expectations, reporting $4.96 earnings per share on revenue of $44.91 billion, although revenue was down 10.5% compared to last year.
• The company declared a quarterly dividend of $1.40 per share, with an annualized rate of $5.60 and a dividend yield of 1.87%.

Princeton Capital Management LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,997 shares of the financial services provider's stock after buying an additional 2,236 shares during the quarter. JPMorgan Chase & Co. accounts for 1.6% of Princeton Capital Management LLC's investment portfolio, making the stock its 12th largest holding. Princeton Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $4,660,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $8,310,884,000. GAMMA Investing LLC lifted 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 purchasing an additional 23,465,278 shares in the last quarter. Northern Trust Corp lifted 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 purchasing an additional 4,515,147 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted 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 purchasing an additional 2,551,899 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of JPMorgan Chase & Co. by 16.3% in 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 valued at $4,207,028,000 after acquiring an additional 2,465,572 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of NYSE:JPM traded down $7.03 on Friday, reaching $289.21. The company had a trading volume of 12,005,470 shares, compared to its average volume of 8,727,902. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $301.29. The firm's 50 day simple moving average is $280.47 and its 200-day simple moving average is $261.28. The firm has a market capitalization of $803.74 billion, a PE ratio of 14.84, a PEG ratio of 2.00 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

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

JPMorgan Chase & Co. Dividend Announcement

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

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of research reports. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. UBS Group lifted their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Finally, Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average target price of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer directly owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares in the company, valued at $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 over the last three months. Company insiders own 0.47% of the company's stock.

About JPMorgan Chase & Co.

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.