Sigma Planning Corp Reduces Stock Position in JPMorgan Chase & Co. $JPM

Sigma Planning Corp trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.5% in the first quarter, Holdings Channel.com reports. The fund owned 54,533 shares of the financial services provider’s stock after selling 2,571 shares during the period. Sigma Planning Corp’s holdings in JPMorgan Chase & Co. were worth $16,041,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

JPM has been the topic of several recent research reports. Robert W. Baird boosted their price objective on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley restated a “positive” rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday. Evercore reaffirmed an “outperform” rating and issued a $360.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Finally, Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $354.92.

Insider Activity

In related news, General Counsel Stacey Friedman sold 5,467 shares of the 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 transaction, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% 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. Insiders sold a total of 18,876 shares of company stock valued at $5,907,051 over the last quarter. Company insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.1%

JPM stock opened at $341.60 on Monday. The stock has a market capitalization of $915.33 billion, a P/E ratio of 14.64, a PEG ratio of 1.52 and a beta of 0.99. 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 one year low of $279.10 and a one year high of $351.24. The company has a 50 day moving average price of $319.11 and a two-hundred day moving average price of $310.21.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date 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 (DPR) is 25.71%.

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

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.