Pittenger & Anderson Inc. Acquires 8,810 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Pittenger & Anderson Inc. increased its JPMorgan Chase stake by 14.3% in the fourth quarter, buying 8,810 additional shares and bringing its total holdings to 70,533 shares worth about $22.7 million.
• JPMorgan reported better-than-expected quarterly results, posting EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion, with revenue up 10% year over year.
• The bank also maintained its dividend at $1.50 per share quarterly, equal to an annualized $6.00 payout and a 2.0% yield, while analysts currently rate the stock a Moderate Buy with an average price target of $338.12.

Pittenger & Anderson Inc. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,533 shares of the financial services provider's stock after purchasing an additional 8,810 shares during the quarter. Pittenger & Anderson Inc.'s holdings in JPMorgan Chase & Co. were worth $22,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in JPM. Brighton Jones LLC boosted its holdings in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. Acorns Advisers LLC increased its stake in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after acquiring an additional 100 shares in the last quarter. Ignite Planners LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock valued at $3,185,000 after acquiring an additional 78 shares during the period. Jump Financial LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $1,475,000. Finally, Betterment LLC boosted its stake in JPMorgan Chase & Co. by 27.5% during the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock worth $571,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.6%

JPMorgan Chase & Co. stock opened at $304.83 on Wednesday. JPMorgan Chase & Co. has a 1-year low of $256.00 and a 1-year high of $337.25. The firm has a market capitalization of $816.81 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03. The firm's fifty day moving average price is $299.65 and its two-hundred day moving average price is $307.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

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, topping the consensus estimate 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 company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the previous year, the firm posted $5.07 earnings per share. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts predict that JPMorgan Chase & Co. will post 22.42 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, April 6th. JPMorgan Chase & Co.'s payout ratio is currently 28.74%.

JPMorgan Chase & Co. News Summary

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

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total value of $15,355,500.00. Following the transaction, the chief executive officer owned 111,279 shares in the company, valued at $34,174,893.69. This trade represents a 31.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 79,849 shares of company stock valued at $24,522,956. Corporate insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on JPM. UBS Group decreased their price target on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Barclays reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Daiwa Securities Group dropped their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Finally, Freedom Capital upgraded JPMorgan Chase & Co. to a "hold" rating in a report on Wednesday, January 14th. Fifteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $338.12.

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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