Midway Capital Research & Management Makes New $2.58 Million Investment in JPMorgan Chase & Co. $JPM

Key Points

• Midway Capital Research & Management opened a new position in JPMorgan Chase, buying 7,991 shares worth about $2.58 million. The stake now makes up roughly 2.5% of its portfolio and is its 14th largest holding.
• JPMorgan continues to attract major institutional interest, with firms like Morgan Stanley, Norges Bank, and others adding to or initiating positions. In total, 71.55% of the stock is owned by institutional investors and hedge funds.
• The bank recently beat earnings expectations, reporting $5.94 EPS on $50.54 billion in revenue, while also raising investor attention with a $1.50 quarterly dividend payable July 31. Analysts are mixed overall, with a consensus rating of Hold and an average target price of $339.08.

Midway Capital Research & Management purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,991 shares of the financial services provider's stock, valued at approximately $2,575,000. JPMorgan Chase & Co. makes up about 2.5% of Midway Capital Research & Management's investment portfolio, making the stock its 14th largest holding.

Several other large investors have also modified their holdings of the business. Morgan Stanley lifted its stake in JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock valued at $21,390,662,000 after buying an additional 939,421 shares in the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $11,396,496,000. Bank of New York Mellon Corp increased its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock worth $7,547,837,000 after buying an additional 1,194,583 shares in the last quarter. Legal & General Group Plc increased its position in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock worth $6,128,484,000 after buying an additional 110,586 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider's stock worth $5,161,532,000 after acquiring an additional 296,213 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business network

Wall Street Analysts Forecast Growth

A number of research firms recently commented on JPM. DZ Bank reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Evercore upped their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Finally, Daiwa Securities Group cut their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $339.08.

JPMorgan Chase & Co. Stock Up 0.0%

JPM opened at $325.28 on Friday. The firm has a 50 day moving average price of $309.17 and a 200 day moving average price of $307.69. The company has a market cap of $871.58 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. JPMorgan Chase & Co. has a 1 year low of $272.11 and a 1 year high of $338.09. 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 earnings per share for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. During the same period in the previous year, the company posted $5.07 earnings per share. JPMorgan Chase & Co.'s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 22.44 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. JPMorgan Chase & Co.'s payout ratio is presently 28.74%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 433 shares of the company's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction 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. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The shares were 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. This represents a 8.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,589 shares of company stock valued at $8,747,496 in the last quarter. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Company 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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