JPMorgan Chase & Co. $JPM Shares Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 19.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,957 shares of the financial services provider’s stock after acquiring an additional 2,119 shares during the quarter. Sierra Summit Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $3,811,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of JPM. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $27,000. MBM Wealth Consultants LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $32,000. Osbon Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $35,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in JPMorgan Chase & Co. during the third quarter worth $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 5,611 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the sale, the chief financial officer directly owned 35,460 shares of the company’s stock, valued at approximately $10,870,263. This represents a 13.66% decrease in their position. The sale was disclosed in a document filed 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 firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the completion of the sale, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. 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 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Autonomous Res decreased their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Daiwa Securities Group lowered their target price on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $336.00 to $362.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Thursday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $345.33.

JPMorgan Chase & Co. Stock Up 0.4%

JPMorgan Chase & Co. stock opened at $339.06 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $343.45. The stock’s fifty day simple moving average is $314.47 and its 200-day simple moving average is $309.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $908.53 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.54 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.07 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 22.76 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: UBS and Bank of America raised their price targets on JPMorgan Chase & Co. (NYSE: JPM), reinforcing a bullish outlook from major Wall Street firms.
• Positive Sentiment: JPMorgan Chase & Co. (NYSE: JPM) is approaching its July 14 earnings report with analysts expecting earnings growth and a potential beat.
• Positive Sentiment: Industry commentary suggests trading and investment-banking activity may have been strong in the second quarter, which could boost JPMorgan Chase & Co. (NYSE: JPM) results.
• Neutral Sentiment: Reports that big banks are exploring a payments deal to work around debit-card fee caps could be strategically important, but the direct impact on JPMorgan Chase & Co. (NYSE: JPM) remains uncertain.
• Neutral Sentiment: Several articles highlighted JPMorgan’s market commentary on currencies, semiconductors, and broader equities, which reflect the firm’s research activity more than a direct earnings driver.
• Neutral Sentiment: JPMorgan Chase & Co. (NYSE: JPM) ceased to be a substantial holder in Clarity Pharmaceuticals, a routine portfolio update with limited likely impact on the stock.

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.