Legacy Edge Advisors LLC Takes $2.88 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Legacy Edge Advisors LLC initiated a new position in JPMorgan Chase & Co. during the fourth quarter, buying 8,951 shares valued at about $2.88 million.
• Analysts remain broadly constructive on JPM, with a consensus rating of “Moderate Buy” and an average price target of $338.12. Recent updates included higher targets from Argus and Evercore.
• JPMorgan reported strong quarterly results, with EPS of $5.94 and revenue of $50.54 billion, both above estimates. The company also paid a quarterly dividend of $1.50 per share, equal to a 2.0% annualized yield.

Legacy Edge Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,951 shares of the financial services provider's stock, valued at approximately $2,884,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. raised its stake in JPMorgan Chase & Co. by 14.3% in the 4th quarter. Pittenger & Anderson Inc. now owns 70,533 shares of the financial services provider's stock valued at $22,727,000 after purchasing an additional 8,810 shares during the last quarter. Balentine LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.3% during the 4th quarter. Balentine LLC now owns 2,852 shares of the financial services provider's stock worth $919,000 after purchasing an additional 64 shares during the last quarter. RWQ Financial Management Services Inc. boosted its stake in shares of JPMorgan Chase & Co. by 43.4% during the 4th quarter. RWQ Financial Management Services Inc. now owns 55,385 shares of the financial services provider's stock worth $17,846,000 after purchasing an additional 16,775 shares during the last quarter. Aurora Private Wealth Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $1,596,000. Finally, Ellis Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Argus increased their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Evercore lifted their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Freedom Capital upgraded JPMorgan Chase & Co. to a "hold" rating in a research report on Wednesday, January 14th. Finally, Robert W. Baird set a $295.00 price target on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $338.12.

JPMorgan Chase & Co. Stock Up 1.6%

Shares of NYSE:JPM opened at $304.83 on Wednesday. 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. has a 1 year low of $256.00 and a 1 year high of $337.25. The stock has a market capitalization of $816.81 billion, a P/E ratio of 14.60, a PEG ratio of 1.46 and a beta of 1.03. The stock has a 50-day simple moving average of $299.65 and a 200-day simple moving average of $307.35.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted 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 firm had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. JPMorgan Chase & Co.'s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.07 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 22.42 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a dividend of $1.50 per share. The ex-dividend date was Monday, April 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%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 9,136 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the transaction, the chief operating officer directly owned 90,001 shares of the company's stock, valued at $27,590,706.56. This trade represents a 9.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 3,404 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $306.40, for a total value of $1,042,985.60. Following the transaction, the general counsel owned 61,949 shares in the company, valued at approximately $18,981,173.60. This represents a 5.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 79,849 shares of company stock worth $24,522,956. Corporate insiders own 0.41% of the company's stock.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan is expanding further into crypto and tokenized funds, signaling it wants a bigger share of a rapidly growing market for tokenized assets. JPMorgan’s crypto push deepens with filing for tokenized fund
• Positive Sentiment: JPMorgan’s markets division is reportedly booming after a record quarter, reinforcing strength in a key profit driver. JPMorgan’s Markets Business Is Booming After Record Quarter
• Positive Sentiment: Analysts continue to highlight JPMorgan’s earnings power and dividend appeal, which can help support the stock’s valuation. JPMorgan Chase & Co. (JPM) is a Top Dividend Stock Right Now: Should You Buy?
• Neutral Sentiment: JPMorgan’s own strategists are staying constructive on stocks overall, saying profits are outweighing war risks and that inflation and macro volatility remain important themes for markets. JPMorgan’s Lakos-Bujas Says Profits Eclipse War Risks for Stocks
• Negative Sentiment: Jamie Dimon warned that higher UK bank taxes could cause JPMorgan to reconsider or scale back its planned multibillion-dollar London headquarters investment, raising policy risk around future expansion. Jamie Dimon just joined Ken Griffin in warning that taxes could curb expansion plans

About JPMorgan Chase & Co.

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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