Ponta Wealth Partners LLC Purchases Shares of 7,531 JPMorgan Chase & Co. $JPM

Key Points

• Ponta Wealth Partners LLC opened a new position in JPMorgan Chase, buying 7,531 shares valued at about $2.43 million. The stake now represents roughly 2.3% of the firm’s holdings.
• JPMorgan reported better-than-expected quarterly results, with EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion, up 10% year over year. Analysts now expect the bank to earn 22.42 EPS for the current year.
• The company also continues to return cash to shareholders, paying a $1.50 quarterly dividend that annualizes to $6.00 per share, a 2.0% yield. Meanwhile, several insiders sold shares in recent months, including COO Jennifer Piepszak and CEO Troy L. Rohrbaugh.

Ponta Wealth Partners LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,531 shares of the financial services provider's stock, valued at approximately $2,427,000. JPMorgan Chase & Co. comprises approximately 2.3% of Ponta Wealth Partners LLC's holdings, making the stock its 10th biggest holding.

Other hedge funds also recently modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $32,000. Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. Cresta Advisors Ltd. acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $48,000. Miller Global Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $52,000. Finally, Collier Financial acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $60,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $297.93 on Friday. JPMorgan Chase & Co. has a twelve month low of $256.00 and a twelve month high of $337.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a 50-day simple moving average of $299.67 and a two-hundred day simple moving average of $307.32. The stock has a market capitalization of $798.31 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share 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 business had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the previous year, the company earned $5.07 EPS. The business's revenue was up 10.0% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 22.42 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the completion of the transaction, the chief executive officer directly owned 111,279 shares in the company, valued at approximately $34,174,893.69. This represents a 31.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 79,849 shares of company stock worth $24,522,956. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating for the company in a research note on Tuesday, February 17th. DZ Bank restated a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Barclays restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Finally, Evercore raised their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. Fifteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $338.12.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan's bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

About JPMorgan Chase & Co.

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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