Moran Wealth Management LLC Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

Moran Wealth Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 86,785 shares of the financial services provider’s stock after selling 2,422 shares during the quarter. JPMorgan Chase & Co. makes up about 0.8% of Moran Wealth Management LLC’s investment portfolio, making the stock its 20th biggest position. Moran Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $25,529,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Roxbury Financial LLC lifted its position in JPMorgan Chase & Co. by 0.4% during the fourth quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider’s stock worth $2,581,000 after buying an additional 31 shares during the period. Collective Family Office LLC grew its holdings in JPMorgan Chase & Co. by 1.0% in the 4th quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider’s stock valued at $1,076,000 after buying an additional 32 shares during the period. Essential Planning LLC. grew its holdings in JPMorgan Chase & Co. by 2.4% in the 4th quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock valued at $451,000 after buying an additional 33 shares during the period. Tevis Investment Management increased its stake in shares of JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider’s stock valued at $1,337,000 after acquiring an additional 34 shares during the last quarter. Finally, Spinnaker Investment Group LLC increased its stake in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider’s stock valued at $1,670,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their position. The transaction 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. Also, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 33,623 shares of company stock valued at $10,427,835 over the last quarter. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JPM shares. Barclays reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a “buy” rating in a report on Tuesday. Evercore reissued an “outperform” rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday. Finally, Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $345.33.

JPMorgan Chase & Co. Price Performance

JPM opened at $339.06 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $343.45. The company has a 50 day moving average of $314.47 and a two-hundred day moving average of $309.35. The company has a market cap of $908.53 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.54 and a beta of 0.99. 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 posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the previous year, the business posted $5.07 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts expect that JPMorgan Chase & Co. will post 22.76 earnings per share 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. Stockholders of record on Monday, July 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: UBS and Bank of America raised their price targets on JPMorgan Chase & Co. (NYSE: JPM), reinforcing a bullish outlook from major Wall Street firms.
• Positive Sentiment: JPMorgan Chase & Co. (NYSE: JPM) is approaching its July 14 earnings report with analysts expecting earnings growth and a potential beat.
• Positive Sentiment: Industry commentary suggests trading and investment-banking activity may have been strong in the second quarter, which could boost JPMorgan Chase & Co. (NYSE: JPM) results.
• Neutral Sentiment: Reports that big banks are exploring a payments deal to work around debit-card fee caps could be strategically important, but the direct impact on JPMorgan Chase & Co. (NYSE: JPM) remains uncertain.
• Neutral Sentiment: Several articles highlighted JPMorgan’s market commentary on currencies, semiconductors, and broader equities, which reflect the firm’s research activity more than a direct earnings driver.
• Neutral Sentiment: JPMorgan Chase & Co. (NYSE: JPM) ceased to be a substantial holder in Clarity Pharmaceuticals, a routine portfolio update with limited likely impact on the 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.