Welch & Forbes LLC Cuts Stake in JPMorgan Chase & Co. $JPM

Welch & Forbes LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 665,957 shares of the financial services provider’s stock after selling 5,331 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.6% of Welch & Forbes LLC’s investment portfolio, making the stock its 7th biggest position. Welch & Forbes LLC’s holdings in JPMorgan Chase & Co. were worth $214,585,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of JPM. Turning Point Benefit Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $35,000. Merrithew & Thorsten Inc bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. WHI TRUST Co LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $45,000. Cresta Advisors Ltd. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $48,000. Finally, Miller Global Investments LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $52,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.2%

Shares of NYSE:JPM opened at $312.95 on Monday. JPMorgan Chase & Co. has a 52-week low of $262.71 and a 52-week high of $337.25. The stock has a market cap of $838.54 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.52 and a beta of 1.00. The business’s 50 day moving average is $303.89 and its 200 day moving average is $306.53. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter in the prior year, the firm earned $5.07 earnings per share. JPMorgan Chase & Co.’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Analysts Set New Price Targets

A number of research analysts have recently commented on JPM shares. Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. UBS Group dropped their price objective on JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Finally, Zacks Research cut JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $339.08.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Jamie Dimon is personally helping pitch SpaceX’s blockbuster IPO to thousands of JPMorgan’s wealthy clients, highlighting the bank’s influence in capital markets and potentially boosting fee income. Reuters article on Dimon and SpaceX IPO roadshow
• Positive Sentiment: The bank is backing a shared tokenized deposit network with other major U.S. lenders, a move that could strengthen JPMorgan’s payments and digital-asset infrastructure position versus stablecoin rivals. WSJ article on tokenized deposit system
• Positive Sentiment: Jim Cramer publicly called JPMorgan “the best bank in the world” and said investors can “buy it and put it away,” reinforcing a constructive market view of the stock. Yahoo Finance article on Jim Cramer
• Neutral Sentiment: News that JPMorgan is using its branch network and client base to promote SpaceX underscores its scale and wealth-management reach, but the impact on near-term earnings is uncertain. Benzinga article on SpaceX IPO promotion
• Neutral Sentiment: Separate headlines noted JPMorgan is evaluating acquisition opportunities and may have $10 billion to $20 billion available for a deal, which could be accretive but also adds execution risk. Yahoo Finance article on acquisition opportunities
• Negative Sentiment: JPMorgan also warned that the crypto industry’s CLARITY Act has a narrowing path to passage, which could slow regulatory progress for digital-asset businesses. Benzinga article on CLARITY Act timing

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% 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. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction on Tuesday, May 5th. The shares were 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. This trade represents a 5.47% decrease in their position. 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 28,589 shares of company stock worth $8,747,496 over the last quarter. Insiders own 0.41% of the company’s stock.

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.