Stone Summit Wealth LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 12.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,915 shares of the financial services provider’s stock after selling 3,259 shares during the period. JPMorgan Chase & Co. makes up approximately 2.2% of Stone Summit Wealth LLC’s investment portfolio, making the stock its 14th biggest position. Stone Summit Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $7,912,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Concorde Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Concorde Asset Management LLC now owns 2,660 shares of the financial services provider’s stock valued at $871,000 after acquiring an additional 29 shares in the last quarter. Elevation Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.0% during the 2nd quarter. Elevation Wealth Management LLC now owns 3,074 shares of the financial services provider’s stock valued at $1,006,000 after acquiring an additional 29 shares during the period. Henrickson Nauta Wealth Advisors Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,531 shares of the financial services provider’s stock valued at $1,156,000 after acquiring an additional 29 shares during the period. Arkansas Financial Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider’s stock worth $873,000 after purchasing an additional 30 shares in the last quarter. Finally, Flynn Zito Capital Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 30 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. The Goldman Sachs Group restated an “outperform” rating and issued a $392.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday. Royal Bank Of Canada upped their price objective 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, July 15th. UBS Group cut their price objective on shares of JPMorgan Chase & Co. from $400.00 to $395.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 14th. Finally, Bank of America raised their target price on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a “buy” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $361.79.
JPMorgan Chase & Co. Stock Down 0.7%
NYSE JPM opened at $331.99 on Wednesday. The business has a fifty day moving average price of $349.49 and a two-hundred day moving average price of $329.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The stock has a market capitalization of $882.49 billion, a PE ratio of 14.22, a PEG ratio of 1.37 and a beta of 1.02.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share for the quarter, missing analysts’ consensus estimates of $5.94 by ($0.19). JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $50.17 billion during the quarter, compared to analyst estimates of $51.23 billion. During the same period in the prior year, the business posted $5.07 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities analysts expect that JPMorgan Chase & Co. will post 24.18 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be given a dividend of $1.65 per share. The ex-dividend date is Tuesday, October 6th. This represents a $6.60 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.28%.
Insider Buying and Selling at JPMorgan Chase & Co.
In related news, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. This represents a 3.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by corporate insiders.
Key JPMorgan Chase & Co. News
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan reported third-quarter net income of $15.3 billion, up 6% year over year, while revenue increased 8.1% to approximately $50.2 billion. Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management net income rose 13%, 20%, and 11%, respectively. JPMorgan Chase Reports Third-Quarter Net Income
- Positive Sentiment: Management projected approximately $107 billion of 2027 net interest income, excluding Markets, implying growth from fourth-quarter guidance. Executives also characterized market-related deal activity as delayed rather than canceled, supporting the investment-banking recovery narrative. JPMorgan Sees Deal Delays, Not Cancellations
- Positive Sentiment: The bank declared a $1.65-per-share dividend, and stronger deal activity has led JPMorgan to add more than 1,000 investment bankers globally. Investors may view these actions as support for long-term earnings and capital returns. JPMorgan Taps Rob Sweeney as Dealmaking Rebounds
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.
The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.
JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.
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