Tulsa Wealth Advisors INC Makes New Investment in JPMorgan Chase & Co. $JPM

Key Points

• Tulsa Wealth Advisors opened a new position in JPMorgan Chase during the fourth quarter, buying 57,198 shares worth about $18.43 million. The stake now represents roughly 6.1% of the firm’s portfolio and is its fourth-largest holding.
• JPMorgan continues to draw strong institutional interest, with hedge funds and other investors owning 71.55% of the stock. Several other firms also recently initiated new positions in the bank.
• Analysts remain mixed but generally constructive: JPMorgan has a consensus Hold rating and a $339.08 average price target, while the company recently beat earnings estimates with $5.94 EPS and announced a quarterly dividend of $1.50 per share.

Tulsa Wealth Advisors INC purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 57,198 shares of the financial services provider's stock, valued at approximately $18,430,000. JPMorgan Chase & Co. makes up approximately 6.1% of Tulsa Wealth Advisors INC's holdings, making the stock its 4th biggest holding.

Several other institutional investors have also recently made changes to their positions in the company. Timmons Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $32,000. Turning Point Benefit Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $35,000. Merrithew & Thorsten Inc bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $40,000. Finally, WHI TRUST Co LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

More 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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on JPM shares. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a research note on Wednesday, April 15th. Argus boosted their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a report on Tuesday, April 14th. HSBC increased their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research report on Monday, May 4th. Finally, Barclays reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $339.08.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $325.28 on Friday. The company has a market cap of $871.58 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. JPMorgan Chase & Co. has a twelve month low of $272.11 and a twelve month high of $338.09. 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 moving average of $309.17 and a two-hundred day moving average of $307.69.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping 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 business had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the prior year, the firm posted $5.07 earnings per share. The business's quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts predict that JPMorgan Chase & Co. will post 22.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors 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 yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is 28.74%.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 5,468 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the transaction, the general counsel directly owned 46,428 shares of the company's stock, valued at $13,940,935.56. This represents a 10.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $2,800,732.16. Following the completion of the sale, the chief operating officer owned 90,001 shares of the company's stock, valued at approximately $27,590,706.56. This trade represents a 9.22% 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. Over the last quarter, insiders sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is currently owned by corporate insiders.

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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