Main Street Financial Solutions LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 45.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,804 shares of the financial services provider’s stock after selling 10,662 shares during the period. Main Street Financial Solutions LLC’s holdings in JPMorgan Chase & Co. were worth $4,126,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC lifted its position in shares of 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 worth $22,580,000 after purchasing an additional 5,101 shares during the period. Howard Capital Management Inc. lifted its position in 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 valued at $8,308,000 after acquiring an additional 3,976 shares during the last quarter. Andra AP fonden lifted its position in JPMorgan Chase & Co. by 3.2% during the third quarter. Andra AP fonden now owns 107,700 shares of the financial services provider’s stock valued at $33,972,000 after acquiring an additional 3,300 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in JPMorgan Chase & Co. by 51.7% during 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 acquiring an additional 3,027 shares during the last quarter. Finally, Banco Santander S.A. lifted its position in JPMorgan Chase & Co. by 9.0% during the third quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider’s stock valued at $142,767,000 after acquiring an additional 37,550 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on JPM. Argus increased their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Daiwa Securities Group cut their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. HSBC upped their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, UBS Group cut their price target on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average target price of $339.08.
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value 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 represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. The trade was 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 28,589 shares of company stock worth $8,747,496 over the last ninety days. 0.41% of the stock is owned by insiders.
JPMorgan Chase & Co. News Summary
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: JPMorgan’s Chase digital bank is reportedly expanding deeper into Europe, which could open a new long-term retail growth channel beyond the U.S. JPMorgan Chase (JPM) Expands Chase Digital Bank Across Europe In Five Year Push
- Positive Sentiment: JPMorgan has been highlighted as a leadership name in financials, with chart-focused coverage suggesting the stock’s uptrend may still have room to continue. Chart of the Day: JPMorgan’s Bull Market May Be Far From Over
- Positive Sentiment: Rising short-term Treasury yields after hawkish Fed messaging support the outlook for banks by improving lending spreads and reinforcing a higher-for-longer rate environment. Traders Fully Price in a Rate Hike by October on Hawkish Fed
- Neutral Sentiment: The broader financial sector was mixed to slightly softer late in the day, which could temper some of the gains in bank shares. Sector Update: Financial Stocks Softer Late Afternoon
- Neutral Sentiment: JPMorgan and other financial firms were named in an Epstein-related records preservation request, but this appears more like a legal headline than a direct fundamental catalyst for JPM stock. Market Chatter: JPMorgan, Google Among Firms Asked to Preserve Records in Epstein Ranch Investigation
- Negative Sentiment: Potentially higher borrowing costs from the Fed’s hawkish tone could also pressure parts of the economy and weigh on rate-sensitive sentiment if investors worry about slower loan growth or credit quality. Bond Rally Fails to Allay Higher-for-Longer Global Rates Threat
JPMorgan Chase & Co. Stock Up 0.7%
NYSE:JPM opened at $333.45 on Thursday. The firm has a market capitalization of $893.47 billion, a P/E ratio of 15.97, a PEG ratio of 1.62 and a beta of 1.00. JPMorgan Chase & Co. has a 1-year low of $269.72 and a 1-year high of $337.77. The company’s fifty day moving average price is $308.27 and its 200-day moving average price is $307.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The firm 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 business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.07 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 22.4 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm 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 $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.
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.
Featured Stories
- Five stocks we like better than JPMorgan Chase & Co.
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
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.
