3,535 Shares in JPMorgan Chase & Co. $JPM Acquired by Northbridge Financial Group LLC

Northbridge Financial Group LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,535 shares of the financial services provider’s stock, valued at approximately $1,139,000.

Several other large investors have also modified their holdings of JPM. Turning Point Benefit Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at $35,000. Merrithew & Thorsten Inc bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $40,000. WHI TRUST Co LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $45,000. Cresta Advisors Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $48,000. Finally, Miller Global Investments LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $52,000. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the 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 completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the sale, the insider owned 64,920 shares of the company’s stock, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 28,589 shares of company stock valued at $8,747,496. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Robert W. Baird set a $295.00 price target on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Daiwa Securities Group reduced their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. UBS Group dropped their price target on JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Finally, Argus lifted their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $339.08.

JPMorgan Chase & Co. Trading Down 0.9%

Shares of JPM stock opened at $296.53 on Friday. The stock has a 50 day simple moving average of $302.25 and a 200 day simple moving average of $306.84. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 1 year low of $260.31 and a 1 year high of $337.25. The stock has a market cap of $794.56 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. During the same period in the prior year, the company earned $5.07 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts predict that JPMorgan Chase & Co. will post 22.4 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. Stockholders 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 dividend yield of 2.0%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
• Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
• Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident’ That Has JPMorgan Chase on the Hook for $4.25 Million

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.