Legal & General Group Plc Purchases 110,586 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Legal & General Group Plc increased its JPMorgan Chase stake by 0.6% in the fourth quarter, buying 110,586 additional shares and bringing its holdings to 19.0 million shares worth about $6.13 billion.
• Institutional ownership remains heavy, with multiple other funds also raising their positions and about 71.55% of JPMorgan’s stock held by institutional investors overall.
• JPMorgan’s fundamentals and outlook remain solid: the bank beat quarterly earnings and revenue estimates, maintains a quarterly dividend of $1.50 per share, and has a consensus analyst rating of “Moderate Buy.”

Legal & General Group Plc increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,019,564 shares of the financial services provider's stock after purchasing an additional 110,586 shares during the period. JPMorgan Chase & Co. makes up about 1.4% of Legal & General Group Plc's portfolio, making the stock its 10th biggest holding. Legal & General Group Plc owned approximately 0.70% of JPMorgan Chase & Co. worth $6,128,484,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JPM. Howard Capital Management Inc. raised its stake in JPMorgan Chase & Co. by 18.2% in the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock worth $8,308,000 after purchasing an additional 3,976 shares in the last quarter. Andra AP fonden grew its position in shares of JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Andra AP fonden now owns 107,700 shares of the financial services provider's stock worth $33,972,000 after purchasing an additional 3,300 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 51.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock worth $2,862,000 after purchasing an additional 3,027 shares during the period. Banco Santander S.A. increased its holdings in shares of JPMorgan Chase & Co. by 9.0% during the third quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider's stock worth $142,767,000 after purchasing an additional 37,550 shares during the period. Finally, Brighton Jones LLC raised its position in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,468 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This trade represents a 10.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the firm'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 $19,155,295.20. This trade represents a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,589 shares of company stock worth $8,747,496 over the last quarter. Company insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on JPM shares. Daiwa Securities Group cut their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Barclays reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Evercore increased their target price on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Finally, HSBC raised their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $339.08.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan is being highlighted as a diversified, defensive stock outside the AI trade, which may attract investors looking for safety and quality in a rotation away from tech. Jim Cramer says look to buy these 5 stocks outside the AI trade for diversification
• Positive Sentiment: Analysts expect JPMorgan’s Q2 fee income to improve, supported by stronger markets revenue and investment banking fees, which could boost earnings expectations. JPMorgan's Bullish Q2 Outlook Highlights Fee Income Potential
• Positive Sentiment: JPMorgan expanded a $500 million fixed-to-floating notes offering, reinforcing its active capital markets franchise and funding flexibility. JPMorgan Chase Expands 2030 Fixed-to-Floating Notes Offering
• Neutral Sentiment: JPMorgan CEO Jamie Dimon reportedly flagged a possible $20 billion acquisition and continued European expansion, which keeps deal-making and growth optionality in focus but adds uncertainty on execution. JPMorgan Weighs US$20b Deal While Expanding In Europe And Crypto Debate
• Neutral Sentiment: Zacks noted that JPMorgan has recently been outperforming the market, reflecting continued investor confidence in the bank’s fundamentals. JPMorgan Chase & Co. (JPM) Exceeds Market Returns: Some Facts to Consider

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $301.32 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a twelve month low of $260.31 and a twelve month high of $337.25. The company's fifty day moving average is $302.65 and its 200 day moving average is $306.58. The stock has a market cap of $807.38 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.45 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. The company 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%. The company's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.07 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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