Renaissance Technologies LLC Has $202.48 Million Position in JPMorgan Chase & Co. $JPM

Renaissance Technologies LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 32,663.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 688,350 shares of the financial services provider’s stock after buying an additional 686,249 shares during the quarter. Renaissance Technologies LLC’s holdings in JPMorgan Chase & Co. were worth $202,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bollard Group LLC lifted its stake in JPMorgan Chase & Co. by 15.1% in the 1st quarter. Bollard Group LLC now owns 146,569 shares of the financial services provider’s stock valued at $43,115,000 after acquiring an additional 19,190 shares in the last quarter. Rockbridge Investment Management LCC grew its stake in shares of JPMorgan Chase & Co. by 14.0% during the 1st quarter. Rockbridge Investment Management LCC now owns 1,894 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 233 shares in the last quarter. Pennington Partners & CO. LLC raised its holdings in shares of JPMorgan Chase & Co. by 16.3% in the first quarter. Pennington Partners & CO. LLC now owns 3,439 shares of the financial services provider’s stock valued at $1,012,000 after purchasing an additional 482 shares during the last quarter. GC Wealth Management RIA LLC raised its holdings in shares of JPMorgan Chase & Co. by 3.3% in the first quarter. GC Wealth Management RIA LLC now owns 51,740 shares of the financial services provider’s stock valued at $15,220,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of JPMorgan Chase & Co. by 43.8% in the first quarter. Public Employees Retirement System of Ohio now owns 1,589,736 shares of the financial services provider’s stock worth $467,637,000 after purchasing an additional 484,284 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8%

NYSE JPM opened at $356.15 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $359.05. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average of $324.84 and a 200-day moving average of $311.12. The company has a market cap of $954.30 billion, a PE ratio of 15.26, a PEG ratio of 1.47 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. During the same period in the previous year, the company earned $4.96 earnings per share. The firm’s revenue for the quarter was up 27.7% on a year-over-year basis. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 23.97 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.71%.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Morgan Stanley reissued a “positive” rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Evercore restated an “outperform” rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Jefferies Financial Group set a $350.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, July 14th. Finally, Robert W. Baird lifted their target price on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $358.67.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value 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 document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% 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 have sold 18,876 shares of company stock worth $5,907,051 in the last ninety days. 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.