JPMorgan Chase & Co. $JPM Stock Sold by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,536 shares of the financial services provider’s stock after selling 1,745 shares during the period. JPMorgan Chase & Co. makes up approximately 2.4% of W.G. Shaheen & Associates DBA Whitney & Co’s holdings, making the stock its 10th biggest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in JPMorgan Chase & Co. were worth $32,268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Concorde Asset Management LLC increased its stake in JPMorgan Chase & Co. by 1.1% in the second quarter. Concorde Asset Management LLC now owns 2,660 shares of the financial services provider’s stock valued at $871,000 after purchasing an additional 29 shares in the last quarter. Elevation Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 1.0% in the second quarter. Elevation Wealth Management LLC now owns 3,074 shares of the financial services provider’s stock worth $1,006,000 after purchasing an additional 29 shares during the period. Henrickson Nauta Wealth Advisors Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.8% during the second quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,531 shares of the financial services provider’s stock worth $1,156,000 after purchasing an additional 29 shares in the last quarter. Arkansas Financial Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 1.1% during the second quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider’s stock worth $873,000 after purchasing an additional 30 shares in the last quarter. Finally, Flynn Zito Capital Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider’s stock valued at $926,000 after buying an additional 30 shares during the period. Institutional investors own 71.55% of the company’s stock.

More JPMorgan Chase & Co. News

Investors following JPM have been watching these news items:

• Positive Sentiment: JPMorgan is taking a lead role in Anthropic’s planned IPO, including domestic retail marketing and share allocations. The offering could be a major transaction, giving JPMorgan a chance to earn fees and showcase its investment-banking franchise; CEO Jamie Dimon’s participation also raises the bank’s profile. JPMorgan takes lead role in Anthropic IPO
• Neutral Sentiment: JPMorgan is lead arranger for a $2.85 billion financing package supporting CCC Intelligent Solutions’ buyout. The deal indicates continued lending activity, but the article provides no estimate of fees or likely effect on earnings. CCC Intelligent Solutions financing
• Negative Sentiment: A report says JPMorgan may sell about $2 billion of Qualtrics-related debt at roughly 85 cents on the dollar. If the bank holds the debt and sells at that discount, it could crystallize a loss; the article does not clarify the potential impact on JPMorgan’s results. JPMorgan may sell Qualtrics debt at a discount

JPMorgan Chase & Co. Stock Up 0.4%

JPM stock opened at $343.35 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $911.80 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.35 and a beta of 1.03. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The business has a 50-day moving average of $341.06 and a 200-day moving average of $324.40.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.94 by ($0.19). JPMorgan Chase & Co. had a net margin of 21.85% and a return on equity of 18.48%. The firm had revenue of $50.17 billion during the quarter, compared to analyst estimates of $51.23 billion. During the same period in the prior year, the business posted $5.07 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 23.95 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th were given a dividend of $1.65 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 27.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on JPM shares. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. The Goldman Sachs Group reaffirmed an “outperform” rating and set a $392.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 13th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $352.00 to $361.00 and gave the stock a “hold” rating in a report on Wednesday, October 14th. HSBC boosted their target price on JPMorgan Chase & Co. from $369.00 to $377.00 and gave the company a “hold” rating in a research note on Monday, September 28th. Finally, Citigroup lowered their price target on JPMorgan Chase & Co. from $360.00 to $350.00 and set a “neutral” rating for the company in a report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $368.33.

Insiders Place Their Bets

In other news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the transaction, the insider directly owned 71,047 shares of the company’s stock, valued at $25,066,092.07. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal 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. 0.41% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.