Bollard Group LLC Raises Stake in JPMorgan Chase & Co. $JPM

Bollard Group LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 15.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 146,569 shares of the financial services provider’s stock after acquiring an additional 19,190 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.3% of Bollard Group LLC’s investment portfolio, making the stock its 13th biggest position. Bollard Group LLC’s holdings in JPMorgan Chase & Co. were worth $43,115,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Timmons Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $27,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $32,000. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $35,000. Finally, Osbon Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $418.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Morgan Stanley reiterated a “positive” rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Barclays boosted their price objective on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.67.

JPMorgan Chase & Co. Trading Up 0.8%

JPM opened at $356.15 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $359.05. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The business has a fifty day simple moving average of $324.84 and a 200-day simple moving average of $311.12. The firm has a market cap of $954.30 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.47 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the previous year, the business earned $4.96 EPS. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid 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 1.7%. JPMorgan Chase & Co.’s dividend payout ratio is 25.71%.

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,876 shares of company stock worth $5,907,051 over the last three months. Company 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.