Nolet Wealth Management LLC Takes Position in JPMorgan Chase & Co. $JPM

Nolet Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,558 shares of the financial services provider’s stock, valued at approximately $824,000.

Several other large investors also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $32,000. Turning Point Benefit Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $35,000. Merrithew & Thorsten Inc purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $40,000. Finally, WHI TRUST Co LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JPM shares. Robert W. Baird set a $295.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Autonomous Res reduced their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Argus boosted their price objective on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $339.08.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $325.28 on Friday. The firm’s 50 day simple moving average is $309.17 and its 200 day simple moving average is $307.69. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $871.58 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. JPMorgan Chase & Co. has a 1-year low of $272.11 and a 1-year high of $338.09.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period in the prior year, the company posted $5.07 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 22.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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 dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 433 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the transaction, the insider directly owned 64,920 shares in the company, valued at $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 5,468 shares of the company’s stock in a transaction dated 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 owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% 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 a total of 28,589 shares of company stock worth $8,747,496 over the last three months. Corporate insiders own 0.41% of the company’s 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.