Retirement Planning Group LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,063 shares of the financial services provider’s stock after selling 2,841 shares during the period. Retirement Planning Group LLC’s holdings in JPMorgan Chase & Co. were worth $2,960,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Roxbury Financial LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 4th quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 31 shares during the last quarter. Collective Family Office LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.0% in the fourth quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider’s stock valued at $1,076,000 after purchasing an additional 32 shares during the last quarter. Essential Planning LLC. increased its holdings in shares of JPMorgan Chase & Co. by 2.4% in the fourth quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 33 shares during the last quarter. Sterling Group Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 0.8% during the first quarter. Sterling Group Wealth Management LLC now owns 4,020 shares of the financial services provider’s stock worth $1,183,000 after buying an additional 33 shares in the last quarter. Finally, Spinnaker Investment Group LLC lifted its position in JPMorgan Chase & Co. by 0.7% during the fourth quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider’s stock worth $1,670,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on the company. Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, July 6th. The Goldman Sachs Group reiterated a “buy” rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday. Royal Bank Of Canada boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley restated a “positive” rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday. Finally, DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $354.92.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. stock opened at $341.60 on Friday. The company’s 50 day simple moving average is $319.11 and its 200-day simple moving average is $310.31. The company has a market capitalization of $915.33 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $351.24. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.
JPMorgan Chase & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.71%.
JPMorgan Chase & Co. News Summary
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
- Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
- Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
- Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
- Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
- Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $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 a total of 18,876 shares of company stock valued at $5,907,051 over the last quarter. 0.41% of the stock is owned by company insiders.
JPMorgan Chase & Co. Company 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.
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