Vertrix Wealth Management LLC Makes New Investment in JPMorgan Chase & Co. $JPM

Key Points

• Vertrix Wealth Management initiated a new position in JPMorgan Chase during the first quarter, buying 20,986 shares valued at about $6.17 million. The stake makes JPMorgan its 10th-largest holding and represents about 2.3% of its portfolio.
• JPMorgan reported strong quarterly results, posting EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion, both ahead of expectations. Revenue rose 10% year over year, and analysts now forecast full-year EPS of 22.76.
• The bank also announced a quarterly dividend of $1.50 per share, payable July 31, for an annualized payout of $6.00 and a yield of 1.8%. Meanwhile, several insiders sold shares recently, including General Counsel Stacey Friedman and CFO Jeremy Barnum.

Vertrix Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 20,986 shares of the financial services provider's stock, valued at approximately $6,173,000. JPMorgan Chase & Co. accounts for approximately 2.3% of Vertrix Wealth Management LLC's investment portfolio, making the stock its 10th largest holding.

Other hedge funds also recently modified their holdings of the company. Roxbury Financial LLC lifted its holdings in JPMorgan Chase & Co. by 0.4% in the fourth quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider's stock valued at $2,581,000 after buying an additional 31 shares during the period. Collective Family Office LLC boosted its stake in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider's stock valued at $1,076,000 after acquiring an additional 32 shares during the last quarter. Essential Planning LLC. grew its holdings in JPMorgan Chase & Co. by 2.4% during the 4th quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider's stock worth $451,000 after acquiring an additional 33 shares during the period. Tevis Investment Management grew its holdings in JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider's stock worth $1,337,000 after acquiring an additional 34 shares during the period. Finally, Spinnaker Investment Group LLC raised its position in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider's stock valued at $1,670,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of NYSE JPM opened at $333.91 on Friday. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $343.45. The stock has a market cap of $894.72 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 1.53 and a beta of 0.99. 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's fifty day moving average is $313.35 and its 200-day moving average is $309.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.07 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 22.76 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid 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 presently 28.74%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer directly owned 32,438 shares in the company, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,623 shares of company stock worth $10,427,835 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: Wall Street commentary remains supportive, with analysts reworking revenue assumptions and nudging fair-value estimates higher for JPMorgan ahead of earnings. JPMorgan Chase (JPM) Stock Gets Fair Value Bump As Analysts Rework Revenue Outlook
• Positive Sentiment: Investors are also looking ahead to JPMorgan’s July 14 earnings report, with revisions trends for bank stocks still positive and expectations for the June-quarter cycle trending up. Q2 Earnings Season Nears Kickoff: Bank Earnings in Focus
• Positive Sentiment: JPMorgan’s brand and consumer franchise also got a boost from coverage of the Chase credit-card lounge wars, highlighting its push to win affluent customers and deepen loyalty. American Express and Chase move luxury lounge wars beyond the airport
• Neutral Sentiment: The bank disclosed a larger stake in Umicore SA, showing ongoing investing activity but not a clear direct catalyst for JPM shares. How JPMorgan’s Higher Umicore SA (UMICY) Stake Keeps Focus on Its Circular Battery Materials Platform
• Neutral Sentiment: JPMorgan also remained in the headlines for its broader market views, including warnings on crypto-market risks and support for clearer US crypto rules; these are more thematic than stock-moving in the near term. JPMorgan Says Saylor’s Strategy Adds New Risk to Bitcoin Market
• Negative Sentiment: Governance-related headlines may be weighing on sentiment, including the end of Marianne Lake’s CEO succession bid and her reported $50 million in unvested stock after Dimon chose other successors. JPMorgan CEO contender walks away with $50M in unvested stock after losing Jamie Dimon succession race
• Negative Sentiment: There was also another adverse legal headline, as a judge rejected JPMorgan’s challenge to a disputed $74 million legal-fee bill tied to the Charlie Javice fraud case. JPMorgan Loses Javice Legal Fee Fight
• Negative Sentiment: Separately, JPMorgan must keep paying Charlie Javice’s legal fees, adding to the expense and reputational overhang from the long-running fraud case. JPMorgan has to keep paying Charlie Javice's legal fees, judge rules

Analyst Ratings Changes

Several research analysts have recently issued reports on JPM shares. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $336.00 to $362.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Truist Financial increased their target price on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a "hold" rating in a research note on Friday, June 26th. UBS Group reduced their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Finally, Barclays restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $340.88.

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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