Sierra Summit Advisors LLC Increases Position in JPMorgan Chase & Co. $JPM

Sierra Summit Advisors LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 19.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,957 shares of the financial services provider’s stock after acquiring an additional 2,119 shares during the period. Sierra Summit Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $3,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in shares of JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after purchasing an additional 939,421 shares during the last quarter. Norges Bank acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $11,396,496,000. Bank of New York Mellon Corp raised its position in JPMorgan Chase & Co. by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after buying an additional 1,194,583 shares during the last quarter. Legal & General Group Plc lifted its stake in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after acquiring an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock valued at $5,161,532,000 after acquiring an additional 296,213 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 9,136 shares of the firm’s 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 directly owned 90,001 shares of the company’s stock, valued at approximately $27,590,706.56. This trade represents a 9.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 5,611 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the completion of the transaction, the chief financial officer owned 35,460 shares in the company, valued at approximately $10,870,263. This trade represents a 13.66% decrease in their position. 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 have sold a total of 33,623 shares of company stock valued at $10,427,835 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on JPM shares. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $362.00 to $408.00 and gave the stock a “buy” rating in a report on Tuesday. HSBC increased their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. The Goldman Sachs Group set a $361.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, April 14th. Daiwa Securities Group dropped their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Finally, Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday. Fourteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $345.33.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $339.06 on Wednesday. The stock has a market capitalization of $908.53 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.54 and a beta of 0.99. The stock has a 50-day moving average of $314.47 and a 200 day moving average of $309.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $5.07 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.76 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.’s dividend 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: UBS and Bank of America raised their price targets on JPMorgan Chase & Co. (NYSE: JPM), reinforcing a bullish outlook from major Wall Street firms.
• Positive Sentiment: JPMorgan Chase & Co. (NYSE: JPM) is approaching its July 14 earnings report with analysts expecting earnings growth and a potential beat.
• Positive Sentiment: Industry commentary suggests trading and investment-banking activity may have been strong in the second quarter, which could boost JPMorgan Chase & Co. (NYSE: JPM) results.
• Neutral Sentiment: Reports that big banks are exploring a payments deal to work around debit-card fee caps could be strategically important, but the direct impact on JPMorgan Chase & Co. (NYSE: JPM) remains uncertain.
• Neutral Sentiment: Several articles highlighted JPMorgan’s market commentary on currencies, semiconductors, and broader equities, which reflect the firm’s research activity more than a direct earnings driver.
• Neutral Sentiment: JPMorgan Chase & Co. (NYSE: JPM) ceased to be a substantial holder in Clarity Pharmaceuticals, a routine portfolio update with limited likely impact on the 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.