JPMorgan Chase & Co. $JPM Shares Sold by Klingman & Associates LLC

Klingman & Associates LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,794 shares of the financial services provider’s stock after selling 2,609 shares during the quarter. Klingman & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $7,587,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of JPM. Brighton Jones LLC grew its position in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Acorns Advisers LLC lifted its position in shares of JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.7% in the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock valued at $3,185,000 after purchasing an additional 78 shares during the period. Jump Financial LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $1,475,000. Finally, Betterment LLC grew its holdings in shares of JPMorgan Chase & Co. by 27.5% in the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Analyst Ratings Changes

A number of research firms have issued reports on JPM. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Robert W. Baird upped their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings cut JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $358.67.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $356.15 on Tuesday. The company has a market capitalization of $954.30 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $359.05. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average price of $324.84 and a 200 day moving average price of $311.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. The company had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same quarter last year, the company earned $4.96 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 23.97 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.71%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the firm’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 transaction, the general counsel owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,876 shares of company stock worth $5,907,051 in the last ninety days. 0.41% of the stock is owned by corporate insiders.

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.