Chicago Partners Investment Group LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 93,677 shares of the financial services provider’s stock after acquiring an additional 6,445 shares during the period. JPMorgan Chase & Co. comprises approximately 0.6% of Chicago Partners Investment Group LLC’s holdings, making the stock its 29th largest position. Chicago Partners Investment Group LLC’s holdings in JPMorgan Chase & Co. were worth $29,323,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in JPM. Gratus Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 21.5% during the first quarter. Gratus Wealth Advisors LLC now owns 2,277 shares of the financial services provider’s stock worth $670,000 after acquiring an additional 403 shares in the last quarter. Kellett Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 14.9% during the first quarter. Kellett Wealth Advisors LLC now owns 2,875 shares of the financial services provider’s stock worth $846,000 after purchasing an additional 372 shares during the last quarter. IFC Advisors LLC grew its position in JPMorgan Chase & Co. by 1.7% in the first quarter. IFC Advisors LLC now owns 28,969 shares of the financial services provider’s stock valued at $8,522,000 after purchasing an additional 482 shares in the last quarter. Tevis Investment Management increased its stake in JPMorgan Chase & Co. by 10.0% in the 1st quarter. Tevis Investment Management now owns 4,663 shares of the financial services provider’s stock valued at $1,372,000 after buying an additional 425 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension increased its holdings in shares of JPMorgan Chase & Co. by 12.0% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 86,650 shares of the financial services provider’s stock valued at $25,489,000 after purchasing an additional 9,252 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. stock opened at $341.60 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $351.24. The stock has a market cap of $915.33 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.54 and a beta of 0.99. The business has a 50-day simple moving average of $319.11 and a 200 day simple moving average of $310.31.
JPMorgan Chase & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is 25.71%.
Insider Activity at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was 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 approximately $13,547,031.53. This represents a 11.78% decrease in their position. The sale was disclosed in a legal 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, CFO Jeremy Barnum sold 3,022 shares of the company’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 completion of the sale, the chief financial officer directly 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 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 a total of 18,876 shares of company stock worth $5,907,051 over the last quarter. Corporate insiders own 0.41% of the company’s stock.
Key JPMorgan Chase & Co. News
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
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. 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. Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday. HSBC lifted their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Finally, Piper Sandler increased their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $354.92.
Check Out Our Latest Research Report on JPMorgan Chase & Co.
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.
Read More
- Five stocks we like better than JPMorgan Chase & Co.
- AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector
- Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth
- TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident
- GE Aerospace Faces a Prove-It Moment in Q2 Earnings
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
