Sigma Planning Corp Reduces Holdings in JPMorgan Chase & Co. $JPM

Sigma Planning Corp reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,533 shares of the financial services provider’s stock after selling 2,571 shares during the quarter. Sigma Planning Corp’s holdings in JPMorgan Chase & Co. were worth $16,041,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JPM. Collective Family Office LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.0% during the fourth quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 32 shares during the last quarter. Essential Planning LLC. lifted its holdings in shares of JPMorgan Chase & Co. by 2.4% in the 4th quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 33 shares during the last quarter. Sterling Group Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.8% in the 1st quarter. Sterling Group Wealth Management LLC now owns 4,020 shares of the financial services provider’s stock valued at $1,183,000 after purchasing an additional 33 shares during the period. Spinnaker Investment Group LLC boosted its position in shares of JPMorgan Chase & Co. by 0.7% in the 4th quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider’s stock valued at $1,670,000 after purchasing an additional 34 shares during the period. Finally, Vestia Personal Wealth Advisors grew its stake in JPMorgan Chase & Co. by 2.7% during the 4th quarter. Vestia Personal Wealth Advisors now owns 1,294 shares of the financial services provider’s stock worth $391,000 after buying an additional 34 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

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

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $341.60 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The company has a market cap of $915.33 billion, a P/E ratio of 14.64, a PEG ratio of 1.52 and a beta of 0.99. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $351.24. The company has a 50-day moving average price of $319.11 and a 200 day moving average price of $310.21.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. 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 (DPR) is currently 25.71%.

Analyst Ratings Changes

JPM has been the topic of several research analyst reports. Bank of America lifted their price target on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday. HSBC raised their target price on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Evercore reaffirmed an “outperform” rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Finally, Barclays increased 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $354.92.

Insider Activity

In related news, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The transaction 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. 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 transaction, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their position. 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 sold 18,876 shares of company stock valued at $5,907,051 in the last three months. 0.41% of the stock is currently owned by company insiders.

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.