Channel Wealth LLC Acquires 7,884 Shares of JPMorgan Chase & Co. $JPM

Channel Wealth LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 69.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,248 shares of the financial services provider’s stock after acquiring an additional 7,884 shares during the period. JPMorgan Chase & Co. comprises about 1.6% of Channel Wealth LLC’s portfolio, making the stock its 20th largest position. Channel Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $6,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Mountain Hill Investment Partners Corp. bought a new position in JPMorgan Chase & Co. during the 3rd quarter worth about $32,000. Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. Merrithew & Thorsten Inc bought a new position in JPMorgan Chase & Co. during the 4th quarter worth about $40,000. Cresta Advisors Ltd. bought a new position in 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 4th quarter worth about $52,000. 71.55% of the stock is currently owned by institutional investors.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan’s bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Barclays restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Wells Fargo & Company lowered their price target on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Finally, Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $338.12.

JPMorgan Chase & Co. Stock Up 0.0%

NYSE:JPM opened at $297.93 on Monday. JPMorgan Chase & Co. has a fifty-two week low of $256.00 and a fifty-two week high of $337.25. The stock has a market capitalization of $798.31 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.45 and a beta of 1.03. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50-day simple moving average is $299.67 and its 200-day simple moving average is $307.35.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period last year, the business earned $5.07 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 22.43 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were paid a $1.50 dividend. The ex-dividend date was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Insider Buying and Selling

In related news, insider Robin Leopold sold 433 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total value of $127,760.98. Following the completion of the sale, the insider directly owned 64,920 shares in the company, valued at $19,155,295.20. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the completion of the sale, the chief executive officer owned 111,279 shares of the company’s stock, valued at $34,174,893.69. This trade represents a 31.00% 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 worth $24,522,956 over the last ninety days. Company 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.