Main Street Research LLC Has $71.51 Million Stake in JPMorgan Chase & Co. $JPM

Main Street Research LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 221,919 shares of the financial services provider’s stock after selling 2,804 shares during the quarter. JPMorgan Chase & Co. makes up about 4.0% of Main Street Research LLC’s investment portfolio, making the stock its 7th biggest position. Main Street Research LLC’s holdings in JPMorgan Chase & Co. were worth $71,507,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Merrithew & Thorsten Inc bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $40,000. WHI TRUST Co LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth $45,000. Cresta Advisors Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $48,000. Finally, Miller Global Investments LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $52,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a report on Tuesday, April 14th. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a report on Wednesday, April 15th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. HSBC boosted their target price on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Finally, Wells Fargo & Company decreased 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 research note on Tuesday, February 17th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $339.08.

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 5,611 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the sale, the chief financial officer owned 35,460 shares of the company’s stock, valued at $10,870,263. This trade represents a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. This trade represents a 9.22% 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 sold a total of 28,589 shares of company stock valued at $8,747,496 in the last three months. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.6%

Shares of NYSE:JPM opened at $301.32 on Wednesday. The company has a 50 day moving average price of $302.65 and a two-hundred day moving average price of $306.58. 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 has a market capitalization of $807.38 billion, a PE ratio of 14.43, a PEG ratio of 1.45 and a beta of 1.00. JPMorgan Chase & Co. has a 52 week low of $260.31 and a 52 week high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping 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 company had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period last year, the firm posted $5.07 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan is being highlighted as a diversified, defensive stock outside the AI trade, which may attract investors looking for safety and quality in a rotation away from tech. Jim Cramer says look to buy these 5 stocks outside the AI trade for diversification
• Positive Sentiment: Analysts expect JPMorgan’s Q2 fee income to improve, supported by stronger markets revenue and investment banking fees, which could boost earnings expectations. JPMorgan’s Bullish Q2 Outlook Highlights Fee Income Potential
• Positive Sentiment: JPMorgan expanded a $500 million fixed-to-floating notes offering, reinforcing its active capital markets franchise and funding flexibility. JPMorgan Chase Expands 2030 Fixed-to-Floating Notes Offering
• Neutral Sentiment: JPMorgan CEO Jamie Dimon reportedly flagged a possible $20 billion acquisition and continued European expansion, which keeps deal-making and growth optionality in focus but adds uncertainty on execution. JPMorgan Weighs US$20b Deal While Expanding In Europe And Crypto Debate
• Neutral Sentiment: Zacks noted that JPMorgan has recently been outperforming the market, reflecting continued investor confidence in the bank’s fundamentals. JPMorgan Chase & Co. (JPM) Exceeds Market Returns: Some Facts to Consider

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.