JPMorgan Chase & Co. $JPM Shares Sold by Klingman & Associates LLC

Klingman & Associates LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,794 shares of the financial services provider’s stock after selling 2,609 shares during the quarter. Klingman & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $7,587,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of JPM. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $11,396,496,000. Cardano Risk Management B.V. boosted its holdings in JPMorgan Chase & Co. by 889.3% during the fourth quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after buying an additional 7,796,814 shares in the last quarter. American Assets Investment Management LLC boosted its holdings in JPMorgan Chase & Co. by 1,172.2% during the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after buying an additional 2,081,800 shares in the last quarter. Viking Global Investors LP grew its position in JPMorgan Chase & Co. by 86.1% during the second quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock valued at $1,171,826,000 after buying an additional 1,870,386 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $474,516,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Analyst Ratings Changes

A number of research analysts have weighed in on JPM shares. Evercore reiterated an “outperform” rating and issued a $360.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 target price on the stock in a research report on Wednesday, July 22nd. Autonomous Res reduced their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Argus increased their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley reissued a “positive” rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.67.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPM stock opened at $356.15 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $359.05. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. The stock’s fifty day moving average is $324.84 and its two-hundred day moving average is $311.12. The firm has a market capitalization of $954.30 billion, a P/E ratio of 15.26, a PEG ratio of 1.47 and a beta of 0.99.

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

JPMorgan Chase & Co. Announces Dividend

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

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction 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 completion of the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This trade represents a 5.47% 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. Over the last 90 days, insiders have sold 18,876 shares of company stock valued at $5,907,051. Insiders own 0.41% of the company’s stock.

About JPMorgan Chase & Co.

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.