JPMorgan Chase & Co. $JPM Shares Acquired by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 263,591 shares of the financial services provider’s stock after buying an additional 5,711 shares during the quarter. JPMorgan Chase & Co. comprises about 2.2% of MassMutual Private Wealth & Trust FSB’s holdings, making the stock its 8th largest position. MassMutual Private Wealth & Trust FSB’s holdings in JPMorgan Chase & Co. were worth $86,281,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $27,000. MBM Wealth Consultants LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $32,000. Osbon Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $35,000. Finally, Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 5,467 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on JPM shares. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Truist Financial upped their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. HSBC raised their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. Weiss Ratings cut shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Finally, Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $359.33.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan announced plans to deploy more than $750 billion through 2035 through its American Dream Initiative—nearly 40% more housing capital than during the prior decade. The program targets financing for 1 million affordable housing units and assistance for 500,000 homebuyers, including 200,000 first-time buyers. JPMorganChase Doubles Down on Housing
• Positive Sentiment: The bank plans to increase mortgage lending by more than 40% and hire 850 Home Lending Advisors. Investors may view the expansion as a meaningful growth opportunity if housing supply improves and demand for mortgages, refinancing and affordable-housing finance strengthens. JPMorgan Stock Rises as Housing Plan Unfolds
• Positive Sentiment: Financial stocks advanced broadly, with the NYSE Financial Index rising 0.6%, providing a favorable sector backdrop for JPM. The move follows JPMorgan’s recent strong quarterly results, which exceeded analyst expectations for earnings and revenue. Sector Update: Financial Stocks Advance Late Afternoon
• Neutral Sentiment: JPMorgan economists reportedly brought forward their expectation for a possible year-end Federal Reserve rate increase, citing concerns about Fed credibility. Higher rates could support interest income but also pressure loan demand, bond values and credit quality. JPMorgan Rate Forecast
• Negative Sentiment: Commentary on the housing push warns that the large lending pipeline must pass a profitability test. The scale of the commitment could expose JPMorgan to margin pressure, housing-cycle risk and higher credit losses if returns do not justify the additional capital deployment. JPMorgan Makes Massive Push Into American Housing

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $352.60 on Tuesday. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $359.30. The firm has a 50 day moving average price of $329.73 and a 200 day moving average price of $312.08. The company has a market cap of $944.79 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.45 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the prior year, the company earned $4.96 EPS. The company’s revenue was up 27.7% on a year-over-year basis. Sell-side analysts predict that JPMorgan Chase & Co. will post 24.27 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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