Covenant Asset Management LLC Has $8.23 Million Stake in JPMorgan Chase & Co. $JPM

Covenant Asset Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 25,140 shares of the financial services provider’s stock after selling 2,765 shares during the period. JPMorgan Chase & Co. accounts for about 1.4% of Covenant Asset Management LLC’s portfolio, making the stock its 20th biggest position. Covenant Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $8,229,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Timmons Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $32,000. MBM Wealth Consultants LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $29,000. Osbon Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $35,000. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $35,000. 71.55% of the stock is owned by institutional investors.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan was named the first global banking partner of the Olympic and Paralympic Games. The sponsorship should increase the bank’s international brand visibility and may create opportunities across commercial banking, payments and wealth management. What Does JPMorgan Chase Olympic Deal And Banking Exit Mean Now?
• Positive Sentiment: JPMorgan’s strategists remain constructive on equities for the second half of the year, expecting broader participation from cyclical and higher-beta stocks. A stronger market could support the firm’s investment-banking, trading and asset-management businesses. JPMorgan Sees Further Equity Upside in Second Half
• Positive Sentiment: The bank declared dividends on its Series II, OO and PP preferred stock, signaling continued capacity to meet capital-return obligations. The announcement is routine and does not change common-stock earnings expectations. JPMorganChase Declares Preferred Stock Dividends
• Neutral Sentiment: JPMorgan disclosed larger second-quarter positions in Bitcoin and Ether ETFs. Because the filing combines positions across multiple investment-management entities, the purchases may reflect client or fund activity rather than a firmwide bullish cryptocurrency view. JPMorgan Boosts Bitcoin and Ether ETF Positions
• Negative Sentiment: Reports that JPMorgan ended its banking relationship with Polymarket over regulatory concerns renewed scrutiny of the bank’s exposure to prediction markets. Although JPMorgan reportedly maintains other ties and could pursue future underwriting work, the episode highlights compliance and reputational risks. JPMorgan Debanked Polymarket Over Regulatory Concerns
• Negative Sentiment: Financial stocks traded lower during the afternoon, with the NYSE Financial Index also declining. The sector-wide pressure is likely weighing on JPMorgan alongside profit-taking after its strong run toward its 12-month high. Sector Update: Financial Stocks Softer Friday Afternoon

JPMorgan Chase & Co. Trading Down 0.2%

JPMorgan Chase & Co. stock opened at $362.55 on Friday. The business’s fifty day moving average is $340.11 and its 200 day moving average is $315.46. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $366.50. The stock has a market capitalization of $963.72 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.49 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.55. The firm had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm’s quarterly revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.96 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 24.28 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 6th were given a dividend of $1.50 per share. 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 dividend payout ratio is presently 25.71%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total transaction of $903,525.00. Following the completion of the sale, the insider directly owned 73,547 shares of the company’s stock, valued at approximately $26,580,621.27. This trade represents a 3.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,435 shares of company stock worth $4,353,502 over the last quarter. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on JPM shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $418.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research note on Wednesday, July 22nd. 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. Truist Financial boosted their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. Finally, Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $359.96.

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.