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Insider Trade Spotlight: JP Morgan (JPM)

by | May 2, 2021

JP Morgan (JPM) insiders active buying stock in late April with a director adding $101,000 in stock at $153.12, her latest buy after adding $2M in 2020 around $136. JPM has been a strong performer in 2021 with shares up 21% and now up around 60% over the last twelve months. Shares are forming a nice bull wedge under $155 with a breakout above recent highs targeting $175. The $470.5B company trades 12.85X earnings, 7.9X book and 0.33X cash with a 2.35% yield. The company is coming off a strong quarter and positive outlook given the rise in loan demand and global recovery. JPM also released about $5B in reserves held to carry potential loan losses as the economic recovery has support from stimulus and the reopening. Analysts have an average target for shares of $145. Wells Fargo has a Street High $195 and out on 4/30 noting that JPM has the best structural positioning in its history at a time when cyclical winds seem at its back. The analyst thinks the bank’s model is very scalable, as reflected in the firm’s forecast that the pre-tax margin on new revenues over the next 3 years should be 50% higher than it was in 2020. DA Davidson positive on 4/15 given the prospects of improved commercial and credit card loan growth, coupled with the steeper yield curve. Short interest is 0.60%. Hedge fund ownership fell 0.5% in Q4. Sanders Capital adding another 9M shares.

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