Storen Legacy Partners LLC Acquires Shares of 7,864 JPMorgan Chase & Co. $JPM

Key Points

• Storen Legacy Partners LLC opened a new position in JPMorgan Chase, buying 7,864 shares valued at about $2.53 million in the fourth quarter. JPMorgan now represents 0.8% of the fund’s holdings.
• JPMorgan’s latest quarterly results beat expectations, with EPS of $5.94 versus the $5.50 consensus and revenue of $50.54 billion, up 10% year over year. Analysts currently have a mixed view, with a consensus rating of Hold and an average price target of $339.08.
• The bank also announced a quarterly dividend of $1.50 per share, payable July 31, for an annualized yield of about 1.8%. At the same time, the stock has been buoyed by strong institutional ownership, though it faces some regulatory overhang from a reported DOJ probe tied to Iran-related transactions.

Storen Legacy Partners LLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,864 shares of the financial services provider's stock, valued at approximately $2,534,000. JPMorgan Chase & Co. makes up 0.8% of Storen Legacy Partners LLC's holdings, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $32,000. Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. in the third quarter worth about $35,000. Merrithew & Thorsten Inc bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. Finally, WHI TRUST Co LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $45,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JPM has been the topic of a number of analyst reports. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. The Goldman Sachs Group set a $361.00 price objective on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 8th. Finally, Dbs Bank upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a research note on Tuesday, May 12th. Fourteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $339.08.

JPMorgan Chase & Co. Price Performance

JPM opened at $325.28 on Friday. The company's 50-day simple moving average is $309.17 and its two-hundred day simple moving average is $307.69. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $871.58 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.51 and a beta of 1.00. JPMorgan Chase & Co. has a 52-week low of $272.11 and a 52-week high of $338.09.

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 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $48.30 billion. During the same period in the previous year, the business posted $5.07 earnings per share. The business's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, analysts predict that JPMorgan Chase & Co. will post 22.44 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is 28.74%.

Key JPMorgan Chase & Co. News

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

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 433 shares of the business'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 in the company, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction 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 $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,589 shares of company stock worth $8,747,496. Company insiders own 0.41% of the company's stock.

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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