JPMorgan Chase & Co. $JPM Shares Sold by NFSG Corp

NFSG Corp lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 55.5% during the first quarter, HoldingsChannel reports. The firm owned 3,953 shares of the financial services provider’s stock after selling 4,930 shares during the period. NFSG Corp’s holdings in JPMorgan Chase & Co. were worth $1,163,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in JPM. Morgan Stanley increased its stake in JPMorgan Chase & Co. by 1.4% during the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after buying an additional 939,421 shares during the period. Norges Bank purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $11,396,496,000. Bank of New York Mellon Corp boosted its position in JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after buying an additional 1,194,583 shares during the last quarter. Legal & General Group Plc grew its stake in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after acquiring an additional 110,586 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock valued at $5,161,532,000 after acquiring an additional 296,213 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Morgan Stanley restated a “positive” rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Jefferies Financial Group set a $350.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Finally, Robert W. Baird increased their target price on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $354.92.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $341.60 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $351.24. The firm’s 50-day simple moving average is $319.11 and its 200-day simple moving average is $310.21. The firm has a market cap of $915.33 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99.

JPMorgan Chase & Co. Dividend Announcement

The company 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 is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.71%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. 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 of the company’s stock, valued at approximately $10,036,641.58. The trade was a 8.52% 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 have sold a total of 18,876 shares of company stock valued at $5,907,051 in 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.