OP Asset Management Ltd Takes $82.82 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• OP Asset Management Ltd initiated a new position in JPMorgan Chase & Co. during the first quarter, buying 281,552 shares valued at about $82.82 million. The stake represents roughly 0.8% of the firm’s holdings.
• JPMorgan posted strong quarterly results, with earnings of $5.94 per share versus the $5.50 consensus estimate and revenue of $50.54 billion, up 10% year over year. Analysts now expect the bank to earn 22.44 EPS for the full fiscal year.
• The company announced a quarterly dividend of $1.50 per share and noted recent positive developments, including clearing the Fed stress test and a 10% dividend increase plus a $50 billion buyback. Insiders also sold shares recently, though institutional ownership remains high at 71.55%.

OP Asset Management Ltd bought a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 281,552 shares of the financial services provider's stock, valued at approximately $82,821,000. JPMorgan Chase & Co. accounts for about 0.8% of OP Asset Management Ltd's holdings, making the stock its 19th largest holding.

Other institutional investors have also bought and sold shares of the company. Banque Cantonale Vaudoise raised its holdings in JPMorgan Chase & Co. by 6.4% during the first quarter. Banque Cantonale Vaudoise now owns 89,596 shares of the financial services provider's stock valued at $26,356,000 after acquiring an additional 5,397 shares during the period. Apella Capital LLC boosted its stake in shares of JPMorgan Chase & Co. by 70.3% in the first quarter. Apella Capital LLC now owns 37,770 shares of the financial services provider's stock worth $11,720,000 after acquiring an additional 15,590 shares during the period. Consilium Wealth Advisory LLC boosted its stake in shares of JPMorgan Chase & Co. by 27.3% in the first quarter. Consilium Wealth Advisory LLC now owns 15,610 shares of the financial services provider's stock worth $4,592,000 after acquiring an additional 3,344 shares during the period. Focused Wealth Management Inc grew its position in shares of JPMorgan Chase & Co. by 11.1% during the first quarter. Focused Wealth Management Inc now owns 15,485 shares of the financial services provider's stock worth $4,555,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Keudell Morrison Wealth Management grew its position in shares of JPMorgan Chase & Co. by 6.6% during the first quarter. Keudell Morrison Wealth Management now owns 9,474 shares of the financial services provider's stock worth $2,787,000 after purchasing an additional 590 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 5,611 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the sale, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. The trade was a 13.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the completion of the transaction, the chief operating officer directly owned 90,001 shares of the company's stock, valued at approximately $27,590,706.56. The trade was a 9.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,623 shares of company stock worth $10,427,835 over the last 90 days. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $328.73 on Friday. The company has a market cap of $880.83 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.56 and a beta of 1.00. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $343.45. The stock's 50 day simple moving average is $311.44 and its two-hundred day simple moving average is $308.42. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results 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. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the prior year, the company earned $5.07 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 22.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Analyst Upgrades and Downgrades

A number of research analysts recently commented on JPM shares. HSBC boosted their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Daiwa Securities Group reduced their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Jefferies Financial Group reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Thursday. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. Finally, Autonomous Res cut their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a research note on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $339.58.

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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