ProShare Advisors LLC Purchases 40,319 Shares of JPMorgan Chase & Co. $JPM

ProShare Advisors LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 701,638 shares of the financial services provider’s stock after buying an additional 40,319 shares during the quarter. ProShare Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $226,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Warner Group LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $369,000. Summit Wealth Group LLC increased its position in JPMorgan Chase & Co. by 7.5% during the 4th quarter. Summit Wealth Group LLC now owns 2,958 shares of the financial services provider’s stock worth $953,000 after buying an additional 207 shares during the period. L.K. Benson & Company P.C. bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $427,000. Cedar Wealth Management LLC increased its position in JPMorgan Chase & Co. by 1,256.9% during the 4th quarter. Cedar Wealth Management LLC now owns 692 shares of the financial services provider’s stock worth $223,000 after buying an additional 641 shares during the period. Finally, Synergy Investment Management LLC increased its position in JPMorgan Chase & Co. by 30.8% during the 4th quarter. Synergy Investment Management LLC now owns 972 shares of the financial services provider’s stock worth $313,000 after buying an additional 229 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. News Roundup

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

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What’s Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

Analysts Set New Price Targets

Several analysts have recently issued reports on JPM shares. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, February 24th. Evercore increased their target price on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Wells Fargo & Company reduced their target price on JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. UBS Group reduced their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Finally, HSBC increased their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $339.08.

JPMorgan Chase & Co. Stock Performance

JPM opened at $299.04 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a 52-week low of $260.31 and a 52-week high of $337.25. The firm has a market cap of $801.27 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The business’s fifty day moving average is $302.05 and its 200-day moving average is $306.96.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $5.07 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 3,022 shares of the firm’s 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 sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This trade represents a 5.47% 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. Over the last ninety days, insiders sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is owned by corporate insiders.

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.