Pittenger & Anderson Inc. Increases Position in JPMorgan Chase & Co. $JPM

Pittenger & Anderson Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 70,533 shares of the financial services provider’s stock after acquiring an additional 8,810 shares during the period. Pittenger & Anderson Inc.’s holdings in JPMorgan Chase & Co. were worth $22,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares during the period. Acorns Advisers LLC grew its position in JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after buying an additional 100 shares during the period. Ignite Planners LLC increased its holdings in JPMorgan Chase & Co. by 0.7% during the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after buying an additional 78 shares during the last quarter. Jump Financial LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter worth about $1,475,000. Finally, Betterment LLC raised its position in JPMorgan Chase & Co. by 27.5% in the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock worth $571,000 after acquiring an additional 425 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $304.83 on Wednesday. The company’s 50 day moving average is $299.65 and its 200-day moving average is $307.35. JPMorgan Chase & Co. has a 12-month low of $256.00 and a 12-month high of $337.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market cap of $816.81 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03.

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 return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the prior year, the business posted $5.07 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that JPMorgan Chase & Co. will post 22.42 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were issued a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is presently 28.74%.

Insider Activity at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $307.11, for a total value of $15,355,500.00. Following the completion of the transaction, the chief executive officer directly owned 111,279 shares in the company, valued at approximately $34,174,893.69. This represents a 31.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robin Leopold sold 433 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the completion of the sale, the insider directly owned 64,920 shares of the company’s stock, valued at approximately $19,155,295.20. This represents a 0.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,849 shares of company stock valued at $24,522,956 in the last ninety days. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on JPM shares. Evercore boosted their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Autonomous Res lowered 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. HSBC upped their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research note on Monday, May 4th. UBS Group decreased their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Finally, DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $338.12.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan is expanding further into crypto and tokenized funds, signaling it wants a bigger share of a rapidly growing market for tokenized assets. JPMorgan’s crypto push deepens with filing for tokenized fund
• Positive Sentiment: JPMorgan’s markets division is reportedly booming after a record quarter, reinforcing strength in a key profit driver. JPMorgan’s Markets Business Is Booming After Record Quarter
• Positive Sentiment: Analysts continue to highlight JPMorgan’s earnings power and dividend appeal, which can help support the stock’s valuation. JPMorgan Chase & Co. (JPM) is a Top Dividend Stock Right Now: Should You Buy?
• Neutral Sentiment: JPMorgan’s own strategists are staying constructive on stocks overall, saying profits are outweighing war risks and that inflation and macro volatility remain important themes for markets. JPMorgan’s Lakos-Bujas Says Profits Eclipse War Risks for Stocks
• Negative Sentiment: Jamie Dimon warned that higher UK bank taxes could cause JPMorgan to reconsider or scale back its planned multibillion-dollar London headquarters investment, raising policy risk around future expansion. Jamie Dimon just joined Ken Griffin in warning that taxes could curb expansion plans

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.