JPMorgan Chase & Co. $JPM Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 272,424 shares of the financial services provider’s stock after purchasing an additional 28,371 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in JPMorgan Chase & Co. were worth $87,775,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in JPM. Legal & General Group Plc boosted its holdings in JPMorgan Chase & Co. by 3.3% during the third quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider’s stock worth $5,964,459,000 after buying an additional 607,025 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in JPMorgan Chase & Co. by 2.3% during the third quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider’s stock worth $4,959,330,000 after buying an additional 347,033 shares in the last quarter. Invesco Ltd. boosted its holdings in JPMorgan Chase & Co. by 2.3% during the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider’s stock worth $4,622,675,000 after buying an additional 322,735 shares in the last quarter. Boston Partners boosted its holdings in JPMorgan Chase & Co. by 2.3% during the third quarter. Boston Partners now owns 7,492,763 shares of the financial services provider’s stock worth $2,360,045,000 after buying an additional 168,184 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in JPMorgan Chase & Co. by 19.6% during the third quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider’s stock worth $2,086,806,000 after buying an additional 1,082,913 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Argus raised their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Wells Fargo & Company reduced their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Finally, DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $339.08.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What’s Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

JPMorgan Chase & Co. Trading Down 2.5%

JPMorgan Chase & Co. stock opened at $299.04 on Thursday. The company has a 50 day moving average price of $302.05 and a 200 day moving average price of $306.96. JPMorgan Chase & Co. has a 52 week low of $260.31 and a 52 week high of $337.25. 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 firm has a market capitalization of $801.27 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 1.50 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $5.07 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 22.4 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 paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 JPMorgan Chase & Co. stock in a transaction on Wednesday, May 20th. The shares were 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 of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% 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. Over the last 90 days, insiders sold 28,589 shares of company stock worth $8,747,496. Corporate insiders own 0.41% of the company’s stock.

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.