JPMorgan Chase & Co. $JPM Shares Sold by Sanders Morris Harris LLC

Sanders Morris Harris LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 47.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,780 shares of the financial services provider’s stock after selling 8,861 shares during the period. JPMorgan Chase & Co. makes up approximately 1.9% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 13th largest holding. Sanders Morris Harris LLC’s holdings in JPMorgan Chase & Co. were worth $3,201,000 as of its most recent filing with the SEC.

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

JPMorgan Chase & Co. Stock Up 0.6%

Shares of NYSE:JPM opened at $359.62 on Thursday. The firm has a 50 day simple moving average of $331.96 and a 200 day simple moving average of $312.78. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $363.00. 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 company has a market cap of $963.59 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.55. The company had revenue of $58.02 billion for 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%. The company’s revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.96 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 24.27 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Monday, July 6th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is presently 25.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on JPM shares. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Jefferies Financial Group set a $350.00 target price on JPMorgan Chase & Co. in a report on Tuesday, July 14th. Royal Bank Of Canada boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Finally, DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $359.33.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: New active ETF expands asset-management offerings. J.P. Morgan Asset Management launched the JLVP ETF, which combines a value-oriented large-cap portfolio with a limited short position. The temporary 0.49% management fee could help attract assets and generate additional recurring fee revenue, though the product’s direct impact on JPMorgan’s earnings is likely modest. JPMorgan’s New JLVP ETF Can Bet Both for and Against Stocks
• Positive Sentiment: Dimon leads a cross-industry AI risk initiative. CEO Jamie Dimon is reportedly recruiting banks, technology companies, utilities and other corporations for a JPMorgan-backed alliance focused on AI cybersecurity and critical-infrastructure risks. The effort could strengthen JPMorgan’s leadership profile in technology and risk management, although it is not expected to have an immediate material earnings effect. JPMorgan CEO Dimon leads new cross-industry effort to tackle AI risks
• Positive Sentiment: JPMorgan goes live with Swift’s faster international-transfer service. The initiative with Bank of America is designed to improve cross-border payments for consumers and small businesses. It may support customer retention and future payments-related revenue while reinforcing JPMorgan’s global transaction-banking franchise. Swift Announces Step Forward in International Money Transfers
• Neutral Sentiment: Large housing commitment offers growth potential but carries execution risk. JPMorgan plans to deploy more than $750 billion through 2035 to support housing supply and homeownership. The initiative could expand lending and investment opportunities, but its long time horizon and potential credit, regulatory and capital-allocation risks limit its near-term stock impact. JPMorgan to pour $750 billion into housing in next decade
• Negative Sentiment: Higher-for-longer rate risk could pressure markets and credit demand. JPMorgan reportedly brought forward its forecast for a possible Federal Reserve rate hike, citing inflation concerns and the Fed chair’s guidance. Higher rates can support bank net-interest income initially, but could also weaken loan demand, increase funding costs and raise recession or credit-loss concerns. JPMorgan Says Fed Chair Kevin Warsh’s Press Conference Could Force a Rate Hike

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company’s stock.

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.