Platt Wealth Management LLC Purchases New Position in JPMorgan Chase & Co. $JPM

Key Points

• Platt Wealth Management opened a new position in JPMorgan Chase, buying 17,955 shares worth about $5.8 million. The stake now makes up roughly 5.7% of the firm’s portfolio and is its fifth-largest holding.
• JPMorgan’s latest quarterly results were strong, with EPS of $5.94 beating estimates and revenue of $50.54 billion topping forecasts. Revenue rose 10% year over year, and analysts expect full-year EPS of 22.4.
• The bank also announced a quarterly dividend of $1.50 per share, equal to a 2.0% annual yield. Meanwhile, Wall Street remains generally constructive, with a Moderate Buy consensus and an average target price of $339.08.

Platt Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,955 shares of the financial services provider's stock, valued at approximately $5,785,000. JPMorgan Chase & Co. makes up approximately 5.7% of Platt Wealth Management LLC's investment portfolio, making the stock its 5th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $35,000. Merrithew & Thorsten Inc acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $40,000. WHI TRUST Co LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $45,000. Cresta Advisors Ltd. acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $48,000. Finally, Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $52,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $298.99 on Monday. JPMorgan Chase & Co. has a 12 month low of $260.31 and a 12 month high of $337.25. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $302.47 and a 200-day simple moving average of $306.71. The stock has a market capitalization of $801.14 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly 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 return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the prior year, the business earned $5.07 earnings per share. The company's quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Daiwa Securities Group reduced their price objective 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. The Goldman Sachs Group set a $361.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Evercore boosted their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a research note on Wednesday, April 15th. Finally, Autonomous Res reduced their price objective on 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. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $339.08.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction on 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 transaction, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the completion of the transaction, the insider owned 64,920 shares of the company's stock, valued at $19,155,295.20. The trade was a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 28,589 shares of company stock worth $8,747,496. 0.41% of the stock is owned by insiders.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan launched a new active ETF, JPMorgan Managed Futures Plus ETF (JPFP), expanding its asset-management lineup and adding another fee-generating product for the bank. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: Jamie Dimon said JPMorgan could deploy $10 billion to $20 billion on acquisitions, signaling that the bank has significant capital and flexibility to pursue earnings-accretive deals if the right opportunity appears. Jamie Dimon Says JPMorganChase on Lookout for Potential Acquisitions
• Positive Sentiment: JPMorgan also received favorable attention for its broader market and product franchise, including commentary that retail participation could rebound and support trading activity, which would benefit the bank’s markets business. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: Dimon said he is not especially worried about inflation, a frothy stock market, or cracks in private markets, but he also described current market enthusiasm as “exuberant” and reminiscent of prior bubble-like periods. That mixed message supports the idea that JPMorgan is cautious on the macro backdrop rather than signaling a direct business problem. These Are the Forces Jamie Dimon Says Are the ‘Biggest Thing' on His Mind These Days
• Neutral Sentiment: The bank’s recent earnings and valuation backdrop remain solid overall, with JPMorgan having beaten expectations last quarter, but the latest headlines are more about Dimon’s commentary and strategic optionality than a new fundamental catalyst.
• Negative Sentiment: Dimon’s repeated warnings that stocks are in “exuberant” territory and could echo past crash periods may be weighing on risk sentiment around JPMorgan and the broader financial sector. Stock Market Is in ‘Exuberant’ Territory, Warns Jamie Dimon
• Negative Sentiment: JPMorgan is also dealing with reputational overhang from the “salami incident” arbitration dispute, and the bank plans to challenge the $4.25 million award tied to a former advisor’s firing. While financially small, it adds unwanted headlines. The ‘Salami Incident' That Has JPMorgan Chase on the Hook for $4.25 Million

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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