NewEdge Advisors LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,434,818 shares of the financial services provider’s stock after selling 23,482 shares during the period. JPMorgan Chase & Co. makes up approximately 1.5% of NewEdge Advisors LLC’s holdings, making the stock its 6th biggest holding. NewEdge Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $422,066,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Acorns Advisers LLC increased its holdings in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC raised its stake in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock valued at $3,185,000 after purchasing an additional 78 shares during the period. Jump Financial LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $1,475,000. Finally, Betterment LLC lifted its holdings in shares of JPMorgan Chase & Co. by 27.5% in the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 425 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.
Analyst Upgrades and Downgrades
JPM has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Morgan Stanley restated a “positive” rating and issued a $370.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. UBS Group upped their price target on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday. Barclays raised their price target on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a “neutral” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $359.33.
Key JPMorgan Chase & Co. News
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: New active ETF expands asset-management offerings. J.P. Morgan Asset Management launched the JLVP ETF, which combines a value-oriented large-cap portfolio with a limited short position. The temporary 0.49% management fee could help attract assets and generate additional recurring fee revenue, though the product’s direct impact on JPMorgan’s earnings is likely modest. JPMorgan’s New JLVP ETF Can Bet Both for and Against Stocks
- Positive Sentiment: Dimon leads a cross-industry AI risk initiative. CEO Jamie Dimon is reportedly recruiting banks, technology companies, utilities and other corporations for a JPMorgan-backed alliance focused on AI cybersecurity and critical-infrastructure risks. The effort could strengthen JPMorgan’s leadership profile in technology and risk management, although it is not expected to have an immediate material earnings effect. JPMorgan CEO Dimon leads new cross-industry effort to tackle AI risks
- Positive Sentiment: JPMorgan goes live with Swift’s faster international-transfer service. The initiative with Bank of America is designed to improve cross-border payments for consumers and small businesses. It may support customer retention and future payments-related revenue while reinforcing JPMorgan’s global transaction-banking franchise. Swift Announces Step Forward in International Money Transfers
- Neutral Sentiment: Large housing commitment offers growth potential but carries execution risk. JPMorgan plans to deploy more than $750 billion through 2035 to support housing supply and homeownership. The initiative could expand lending and investment opportunities, but its long time horizon and potential credit, regulatory and capital-allocation risks limit its near-term stock impact. JPMorgan to pour $750 billion into housing in next decade
- Negative Sentiment: Higher-for-longer rate risk could pressure markets and credit demand. JPMorgan reportedly brought forward its forecast for a possible Federal Reserve rate hike, citing inflation concerns and the Fed chair’s guidance. Higher rates can support bank net-interest income initially, but could also weaken loan demand, increase funding costs and raise recession or credit-loss concerns. JPMorgan Says Fed Chair Kevin Warsh’s Press Conference Could Force a Rate Hike
Insider Buying and Selling at JPMorgan Chase & Co.
In related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction on Wednesday, May 20th. The stock was 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 approximately $13,940,935.56. This represents a 10.54% decrease in their position. The transaction 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. Insiders own 0.41% of the company’s stock.
JPMorgan Chase & Co. Trading Up 0.6%
Shares of NYSE:JPM opened at $359.62 on Thursday. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $363.00. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. The company has a market capitalization of $963.59 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The company has a 50-day simple moving average of $331.96 and a 200 day simple moving average of $312.78.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. The firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business’s revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 24.27 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 6th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.
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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