Hillsdale Investment Management Inc. increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,132 shares of the financial services provider’s stock after buying an additional 2,397 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $9,158,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Fortress Financial Solutions LLC increased its position in shares of JPMorgan Chase & Co. by 5.8% during the 1st quarter. Fortress Financial Solutions LLC now owns 1,849 shares of the financial services provider’s stock worth $544,000 after purchasing an additional 101 shares during the last quarter. Calamos Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 14.5% in the 1st quarter. Calamos Wealth Management LLC now owns 89,906 shares of the financial services provider’s stock valued at $26,447,000 after purchasing an additional 11,389 shares during the last quarter. Calamos Advisors LLC raised its position in JPMorgan Chase & Co. by 12.9% in the first quarter. Calamos Advisors LLC now owns 804,936 shares of the financial services provider’s stock valued at $236,780,000 after purchasing an additional 91,741 shares during the period. AMG National Trust Bank grew its stake in shares of JPMorgan Chase & Co. by 16.6% in the first quarter. AMG National Trust Bank now owns 78,306 shares of the financial services provider’s stock valued at $23,034,000 after buying an additional 11,144 shares in the last quarter. Finally, Mattern Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 4.4% in the first quarter. Mattern Capital Management LLC now owns 5,195 shares of the financial services provider’s stock valued at $1,528,000 after buying an additional 218 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.
Key Stories Impacting JPMorgan Chase & Co.
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
Analyst Ratings Changes
Read Our Latest Stock Report on JPM
Insider Activity
In other news, CFO Jeremy Barnum sold 3,022 shares of the business’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 transaction of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 18,876 shares of company stock valued at $5,907,051. 0.41% of the stock is currently owned by company insiders.
JPMorgan Chase & Co. Stock Down 0.5%
Shares of NYSE:JPM opened at $341.60 on Friday. The firm has a 50 day simple moving average of $319.11 and a 200-day simple moving average of $310.31. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $351.24. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $915.33 billion, a PE ratio of 14.64, a P/E/G ratio of 1.53 and a beta of 0.99.
JPMorgan Chase & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors 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 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is 25.71%.
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.
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