Hoertkorn Richard Charles lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 41.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,831 shares of the financial services provider’s stock after selling 20,635 shares during the quarter. JPMorgan Chase & Co. makes up approximately 7.0% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 4th largest position. Hoertkorn Richard Charles’ holdings in JPMorgan Chase & Co. were worth $8,481,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fidelis Capital Partners LLC boosted its holdings in JPMorgan Chase & Co. by 7.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider’s stock valued at $22,580,000 after purchasing an additional 5,101 shares during the period. Howard Capital Management Inc. increased its holdings in shares of JPMorgan Chase & Co. by 18.2% during the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock worth $8,308,000 after purchasing an additional 3,976 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of JPMorgan Chase & Co. by 51.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock valued at $2,862,000 after buying an additional 3,027 shares in the last quarter. Brighton Jones LLC raised its position in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after buying an additional 4,841 shares in the last quarter. Finally, KTF Investments LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $6,449,000. Institutional investors own 71.55% of the company’s stock.
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, COO Jennifer Piepszak sold 4,919 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the transaction, the general counsel owned 40,961 shares of the company’s stock, valued at $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,623 shares of company stock worth $10,427,835 over the last quarter. Corporate insiders own 0.41% of the company’s stock.
Key Stories Impacting JPMorgan Chase & Co.
- Positive Sentiment: Analysts and market coverage suggest JPMorgan could beat expectations on strong equities trading, investment banking, and overall banking-sector momentum heading into earnings. Bank Earnings Should Wow Wall Street. What’s Driving Those Bottom Lines.
- Positive Sentiment: Bank of America analysts said major U.S. banks, including JPMorgan, could surprise to the upside as capital-markets activity and wealth-management flows remain supportive. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
- Positive Sentiment: JPMorgan’s own research on AI investing agents drew attention after the bank said the models beat traditional 60/40 portfolios in backtests, reinforcing a perception of innovation and potential future product differentiation. JPMorgan Chase (JPM) Says Its AI Agents Beat 60 40 Portfolios In Backtests
- Neutral Sentiment: JPMorgan Asset Management also released a retirement survey and promoted an internal leadership change at Campbell Global; these are positive for the franchise but unlikely to move JPM stock materially on their own. J.P. Morgan Asset Management Survey Finds Plan Participants Want an “Easy Button” and More Retirement Income Support Campbell Global Appoints Michael Barbara to Head of Global Acquisitions
- Negative Sentiment: Headline risk remains from renewed scrutiny over JPMorgan’s historical relationship with Epstein and related political questioning of Dimon, which could weigh on sentiment even if it does not change fundamentals. Dimon pressed over whether he lobbied UK government on Epstein’s advice
JPMorgan Chase & Co. Stock Down 0.4%
JPM stock opened at $335.19 on Tuesday. The firm has a 50-day moving average price of $316.28 and a 200-day moving average price of $309.76. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $343.45. 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 stock has a market capitalization of $898.14 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.07 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 22.82 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The business 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 $1.50 dividend. 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 is presently 28.74%.
Analyst Ratings Changes
JPM has been the topic of a number of analyst reports. Autonomous Res reduced their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, June 25th. Evercore reissued an “outperform” rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Finally, Barclays restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $345.33.
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.
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