JPMorgan Chase & Co. $JPM Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 299,794 shares of the financial services provider’s stock after selling 5,018 shares during the quarter. First Manhattan CO. LLC.’s holdings in JPMorgan Chase & Co. were worth $96,600,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Acorns Advisers LLC boosted its position in JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 100 shares during the last quarter. Ignite Planners LLC boosted its holdings in 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 last quarter. Jump Financial LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $1,475,000. Finally, Betterment LLC boosted its holdings in JPMorgan Chase & Co. by 27.5% in the 2nd 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 during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 5,611 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the sale, the chief financial officer directly owned 35,460 shares of the company’s stock, valued at $10,870,263. This trade represents a 13.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the sale, the insider directly owned 64,920 shares in the company, valued at $19,155,295.20. This represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 28,589 shares of company stock valued at $8,747,496. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on JPM. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. The Goldman Sachs Group set a $361.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a “hold” rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, February 24th. Finally, Evercore upped their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $339.08.

Key Stories Impacting JPMorgan Chase & Co.

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 Performance

Shares of JPM opened at $333.45 on Thursday. The company has a 50-day simple moving average of $308.27 and a 200-day simple moving average of $307.48. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $893.47 billion, a PE ratio of 15.97, a P/E/G ratio of 1.62 and a beta of 1.00. JPMorgan Chase & Co. has a 52-week low of $269.72 and a 52-week high of $337.77.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period last year, the firm posted $5.07 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 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.