1,185,864 Shares in JPMorgan Chase & Co. $JPM Acquired by Employees Provident Fund Board

Employees Provident Fund Board purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,185,864 shares of the financial services provider’s stock, valued at approximately $382,109,000. JPMorgan Chase & Co. makes up approximately 2.8% of Employees Provident Fund Board’s investment portfolio, making the stock its 8th largest position.

A number of other hedge funds have also modified their holdings of the business. Morgan Stanley increased its position in JPMorgan Chase & Co. by 1.4% during the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after buying an additional 939,421 shares in the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $11,396,496,000. Bank of New York Mellon Corp boosted its position in shares of JPMorgan Chase & Co. by 5.4% in the fourth 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 acquiring an additional 1,194,583 shares during the last quarter. Legal & General Group Plc grew its stake in shares of 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 buying an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC grew its position in JPMorgan Chase & Co. by 1.9% during the fourth 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 period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.0%

JPMorgan Chase & Co. stock opened at $325.28 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock 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. The firm has a 50 day simple moving average of $309.17 and a 200-day simple moving average of $307.69. JPMorgan Chase & Co. has a 12-month low of $272.11 and a 12-month high of $338.09.

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

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is 28.74%.

Insider Buying and Selling

In other news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the sale, the insider owned 64,920 shares of the company’s stock, valued at $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,589 shares of company stock worth $8,747,496 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.

Trending Headlines about JPMorgan Chase & Co.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a report on Wednesday, April 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Finally, Autonomous Res decreased their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a report on Monday, April 6th. 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, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $339.08.

About JPMorgan Chase & Co.

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.