SmartHarvest Portfolios LLC Invests $4.02 Million in JPMorgan Chase & Co. $JPM

SmartHarvest Portfolios LLC purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 12,485 shares of the financial services provider’s stock, valued at approximately $4,023,000. JPMorgan Chase & Co. makes up 1.4% of SmartHarvest Portfolios LLC’s investment portfolio, making the stock its 11th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Turning Point Benefit Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. Merrithew & Thorsten Inc purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $40,000. WHI TRUST Co LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $45,000. Cresta Advisors Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $48,000. Finally, Miller Global Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $52,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 1.5%

Shares of JPM stock opened at $313.85 on Friday. The stock’s 50 day simple moving average is $305.78 and its 200 day simple moving average is $306.87. 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 twelve month low of $262.71 and a twelve month high of $337.25. The company has a market capitalization of $840.97 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.51 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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 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 the consensus estimate of $48.30 billion. During the same period last year, the business earned $5.07 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.74%.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan’s global expansion remains a positive, including reports that it has deployed $20 billion in the Gulf and doubled its private bankers in Singapore, signaling continued growth in wealth management and international banking. Article: JP Morgan deploys $20bn in Gulf and says postwar rebuild may cost hundreds of billions
• Positive Sentiment: The company continues to benefit from investor optimism around higher-for-longer rates after hotter inflation data, which can support bank lending margins and trading activity. Article: May Inflation Hits 4.2% as Energy Prices Surge, Raising Pressure on Federal Reserve
• Positive Sentiment: JPMorgan’s involvement in tokenized treasuries and digital-asset market infrastructure suggests it is positioned to benefit if regulated crypto adoption continues to grow. Article: Tokenized Treasuries Are Moving Onto the XRP Ledger
• Neutral Sentiment: Jamie Dimon’s comments on Mexico’s economy and trade highlight JPMorgan’s active role in global corporate and sovereign banking, but the direct stock impact is limited. Article: JPMorgan’s Jamie Dimon Praises the Mexican Economy
• Neutral Sentiment: JPMorgan also had several analyst-related headlines on other companies, but these are mostly read-throughs and do not materially change the bank’s own outlook. Article: Coherent and Lumentum just got more attractive, according to J.P. Morgan
• Negative Sentiment: The DOJ has subpoenaed JPMorgan in a widening “debanking” investigation, creating a potential legal and reputational risk for the bank. Article: US Justice Department subpoenas major banks over alleged ‘debanking’
• Negative Sentiment: JPMorgan and other banks also lost a lawsuit over alleged missed red flags at Tricolor, which may keep credit-risk concerns in focus. Article: JPMorgan, Barclays, Fifth Third defeat lawsuit over missed ‘red flags’ at Tricolor

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on JPM shares. Argus raised their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Truist Financial raised their price objective on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a “hold” rating in a research note on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $339.08.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 5,611 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total value of $1,720,052.05. Following the transaction, the chief financial officer directly owned 35,460 shares of the company’s stock, valued at $10,870,263. The trade was a 13.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the transaction, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,589 shares of company stock valued at $8,747,496. Corporate insiders own 0.41% of the company’s stock.

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.