JPMorgan Chase & Co. $JPM Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 13.3% during the first quarter, Holdings Channel.com reports. The firm owned 20,794 shares of the financial services provider’s stock after purchasing an additional 2,434 shares during the quarter. Marks Group Wealth Management Inc’s holdings in JPMorgan Chase & Co. were worth $6,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Collective Family Office LLC boosted its stake 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 buying an additional 32 shares in the last quarter. Essential Planning LLC. raised its position in 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 worth $451,000 after acquiring an additional 33 shares in the last quarter. Sterling Group Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 0.8% in the first quarter. Sterling Group Wealth Management LLC now owns 4,020 shares of the financial services provider’s stock valued at $1,183,000 after acquiring an additional 33 shares during the period. Spinnaker Investment Group LLC lifted its holdings in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider’s stock valued at $1,670,000 after acquiring an additional 34 shares during the period. Finally, Vestia Personal Wealth Advisors boosted its position in shares of JPMorgan Chase & Co. by 2.7% during the 4th quarter. Vestia Personal Wealth Advisors now owns 1,294 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $341.60 on Monday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $351.24. The company has a market capitalization of $915.33 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.52 and a beta of 0.99. The stock has a fifty day moving average of $319.11 and a two-hundred day moving average of $310.21. 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. Dividend Announcement

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 issued a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is 25.71%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the firm’s 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 sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last quarter. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on JPM shares. Argus increased their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Evercore reissued an “outperform” rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Royal Bank Of Canada upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $418.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Finally, Daiwa Securities Group reduced their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $354.92.

Key Stories Impacting JPMorgan Chase & Co.

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

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.