Kestra Private Wealth Services LLC Has $101.73 Million Stock Position in JPMorgan Chase & Co. $JPM

Kestra Private Wealth Services LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 345,829 shares of the financial services provider’s stock after acquiring an additional 30,205 shares during the period. JPMorgan Chase & Co. makes up about 1.3% of Kestra Private Wealth Services LLC’s holdings, making the stock its 7th largest holding. Kestra Private Wealth Services LLC’s holdings in JPMorgan Chase & Co. were worth $101,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of JPM. Timmons Wealth Management LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $27,000. MBM Wealth Consultants LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $32,000. Turning Point Benefit Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $35,000. Finally, Osbon Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. 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 33,623 shares of company stock worth $10,427,835 in the last 90 days. 0.41% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $328.73 on Monday. The stock’s fifty day moving average is $311.44 and its two-hundred day moving average is $308.38. The company has a market capitalization of $880.83 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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 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 quarter last year, the firm posted $5.07 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 22.43 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Daiwa Securities Group lowered their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. HSBC boosted their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Finally, Autonomous Res cut their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $339.58.

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.