JPMorgan Chase & Co. $JPM Stake Boosted by NewEdge Wealth LLC

NewEdge Wealth LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 492,565 shares of the financial services provider’s stock after buying an additional 12,064 shares during the period. JPMorgan Chase & Co. comprises about 1.7% of NewEdge Wealth LLC’s holdings, making the stock its 8th largest position. NewEdge Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $144,893,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of JPM. Morgan Stanley grew its holdings in shares of JPMorgan Chase & Co. by 1.4% during the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after acquiring an additional 939,421 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp lifted its stake in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after purchasing an additional 1,194,583 shares during the period. Legal & General Group Plc lifted its stake in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after purchasing an additional 110,586 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider’s stock valued at $5,578,788,000 after purchasing an additional 607,288 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on JPM shares. Argus upped their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Finally, Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $358.67.

JPMorgan Chase & Co. Stock Up 0.9%

JPM stock opened at $352.88 on Friday. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $353.37. 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 firm has a market cap of $945.55 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.56 and a beta of 0.99. The business has a 50 day moving average of $323.74 and a 200 day moving average of $311.13.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. During the same quarter in the previous year, the business earned $4.96 earnings per share. The firm’s quarterly revenue was up 27.7% compared to the same quarter last year. On average, research analysts forecast that JPMorgan Chase & Co. will post 23.97 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.

Trending Headlines about JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, 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. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction 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. This trade represents a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,876 shares of company stock valued at $5,907,051 in the last quarter. 0.41% of the stock is owned by 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.