PFG Investments LLC Buys 2,752 Shares of JPMorgan Chase & Co. $JPM

PFG Investments LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,901 shares of the financial services provider’s stock after buying an additional 2,752 shares during the period. JPMorgan Chase & Co. accounts for about 1.0% of PFG Investments LLC’s investment portfolio, making the stock its 16th biggest position. PFG Investments LLC’s holdings in JPMorgan Chase & Co. were worth $20,856,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Timmons Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $27,000. MBM Wealth Consultants LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $32,000. Osbon Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $35,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $35,000. 71.55% of the stock is currently owned by institutional investors.

Key Headlines 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.

Analyst Upgrades and Downgrades

A number of analysts recently commented on JPM shares. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. HSBC lifted their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group raised their target price on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Fourteen research 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, the stock has a consensus rating of “Hold” and a consensus price target of $345.33.

JPMorgan Chase & Co. Trading Up 0.4%

NYSE JPM opened at $339.06 on Wednesday. The firm has a market cap of $908.53 billion, a PE ratio of 16.24, a P/E/G ratio of 1.54 and a beta of 0.99. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $343.45. The firm’s fifty day moving average is $314.47 and its two-hundred day moving average is $309.35. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.07 EPS. Analysts expect that JPMorgan Chase & Co. will post 22.76 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the completion of the transaction, the chief operating officer directly owned 90,001 shares of the company’s stock, valued at approximately $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 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 owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,623 shares of company stock valued at $10,427,835 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

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.