Legacy Edge Advisors LLC Invests $2.88 Million in JPMorgan Chase & Co. $JPM

Legacy Edge Advisors LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,951 shares of the financial services provider’s stock, valued at approximately $2,884,000.

A number of other large investors have also added to or reduced their stakes in JPM. Pittenger & Anderson Inc. increased its stake in JPMorgan Chase & Co. by 14.3% during the 4th quarter. Pittenger & Anderson Inc. now owns 70,533 shares of the financial services provider’s stock worth $22,727,000 after buying an additional 8,810 shares during the period. Balentine LLC boosted its position in JPMorgan Chase & Co. by 2.3% in the 4th quarter. Balentine LLC now owns 2,852 shares of the financial services provider’s stock valued at $919,000 after buying an additional 64 shares during the last quarter. RWQ Financial Management Services Inc. boosted its position in JPMorgan Chase & Co. by 43.4% in the 4th quarter. RWQ Financial Management Services Inc. now owns 55,385 shares of the financial services provider’s stock valued at $17,846,000 after buying an additional 16,775 shares during the last quarter. Aurora Private Wealth Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $1,596,000. Finally, Ellis Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $202,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Evercore increased their target price on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $338.12.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan is expanding further into crypto and tokenized funds, signaling it wants a bigger share of a rapidly growing market for tokenized assets. JPMorgan’s crypto push deepens with filing for tokenized fund
• Positive Sentiment: JPMorgan’s markets division is reportedly booming after a record quarter, reinforcing strength in a key profit driver. JPMorgan’s Markets Business Is Booming After Record Quarter
• Positive Sentiment: Analysts continue to highlight JPMorgan’s earnings power and dividend appeal, which can help support the stock’s valuation. JPMorgan Chase & Co. (JPM) is a Top Dividend Stock Right Now: Should You Buy?
• Neutral Sentiment: JPMorgan’s own strategists are staying constructive on stocks overall, saying profits are outweighing war risks and that inflation and macro volatility remain important themes for markets. JPMorgan’s Lakos-Bujas Says Profits Eclipse War Risks for Stocks
• Negative Sentiment: Jamie Dimon warned that higher UK bank taxes could cause JPMorgan to reconsider or scale back its planned multibillion-dollar London headquarters investment, raising policy risk around future expansion. Jamie Dimon just joined Ken Griffin in warning that taxes could curb expansion plans

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 3,404 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total transaction of $1,042,985.60. Following the completion of the transaction, the general counsel directly owned 61,949 shares of the company’s stock, valued at $18,981,173.60. This trade represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 79,849 shares of company stock valued at $24,522,956 in the last ninety days. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $304.83 on Wednesday. The firm has a market cap of $816.81 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.46 and a beta of 1.03. The stock has a 50 day moving average of $299.65 and a 200-day moving average of $307.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52 week low of $256.00 and a 52 week high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating 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 business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same period in the prior year, the company posted $5.07 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, analysts forecast that JPMorgan Chase & Co. will post 22.42 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were paid a dividend of $1.50 per share. The ex-dividend date was Monday, April 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is presently 28.74%.

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.