Bleakley Financial Group LLC Acquires 10,323 Shares of JPMorgan Chase & Co. $JPM

Bleakley Financial Group LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 8.5% during the first quarter, HoldingsChannel reports. The firm owned 131,802 shares of the financial services provider’s stock after acquiring an additional 10,323 shares during the period. Bleakley Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $38,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Roxbury Financial LLC grew its position 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 worth $2,581,000 after acquiring an additional 31 shares in the last quarter. Collective Family Office LLC increased its holdings in shares of 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 worth $1,076,000 after buying an additional 32 shares during the period. Essential Planning LLC. raised its stake in shares of JPMorgan Chase & Co. by 2.4% during the fourth quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock valued at $451,000 after acquiring an additional 33 shares during the last quarter. Tevis Investment Management raised its holdings in shares of JPMorgan Chase & Co. by 0.8% during the third quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider’s stock valued at $1,337,000 after acquiring an additional 34 shares in the last quarter. Finally, Spinnaker Investment Group LLC grew its holdings 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 worth $1,670,000 after acquiring an additional 34 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on JPM shares. Royal Bank Of Canada raised their price target on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, July 6th. Evercore reiterated an “outperform” rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Finally, Argus raised their price objective on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.92.

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction that occurred on 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 sale, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their position. 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 ninety days, insiders sold 18,876 shares of company stock valued at $5,907,051. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPM stock opened at $341.60 on Friday. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $351.24. The stock has a market cap of $915.33 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.54 and a beta of 0.99. The company’s 50-day moving average price is $319.11 and its 200-day moving average price is $310.31. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results 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. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the previous year, the business earned $5.07 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 23.24 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company 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. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is presently 25.71%.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

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.