MV Capital Management Inc. Makes New $9.28 Million Investment in JPMorgan Chase & Co. $JPM

MV Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,786 shares of the financial services provider’s stock, valued at approximately $9,275,000. JPMorgan Chase & Co. comprises about 0.9% of MV Capital Management Inc.’s portfolio, making the stock its 29th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley grew its holdings in shares of JPMorgan Chase & Co. by 1.4% during the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after buying an additional 939,421 shares in the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $11,396,496,000. Bank of New York Mellon Corp boosted its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after acquiring an additional 1,194,583 shares during the last quarter. Legal & General Group Plc grew its stake in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after acquiring an additional 110,586 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock valued at $5,161,532,000 after acquiring an additional 296,213 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.0%

Shares of NYSE:JPM opened at $325.28 on Friday. The business has a 50-day moving average price of $309.17 and a 200 day moving average price of $307.69. 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 company has a market capitalization of $871.58 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 1.51 and a beta of 1.00. JPMorgan Chase & Co. has a 12-month low of $272.11 and a 12-month high of $338.09.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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. The firm had revenue of $50.54 billion for 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%. JPMorgan Chase & Co.’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.07 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 22.44 EPS 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is 28.74%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JPM. The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Evercore increased their price target on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Argus raised their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $339.08.

Insider Activity at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer directly owned 32,438 shares in the company, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 the stock in a transaction that occurred on 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 directly owned 46,428 shares of the company’s stock, valued at $13,940,935.56. The trade was 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. Insiders sold a total of 28,589 shares of company stock valued at $8,747,496 over the last 90 days. Insiders own 0.41% of the company’s stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

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.