BCS Wealth Management Sells 3,022 Shares of JPMorgan Chase & Co. $JPM

BCS Wealth Management lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 50.4% in the first quarter, HoldingsChannel.com reports. The firm owned 2,976 shares of the financial services provider’s stock after selling 3,022 shares during the quarter. BCS Wealth Management’s holdings in JPMorgan Chase & Co. were worth $875,000 at the end of the most recent quarter.

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

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Insider Activity

In other news, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the transaction, the chief operating officer owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 company’s stock in a transaction on 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 represents a 11.78% 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 33,623 shares of company stock worth $10,427,835 over the last quarter. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.9%

JPM stock opened at $328.73 on Friday. The business has a fifty day moving average price of $311.44 and a 200-day moving average price of $308.42. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $343.45. The stock has a market capitalization of $880.83 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.56 and a beta of 1.00. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the previous year, the company posted $5.07 earnings per share. JPMorgan Chase & Co.’s revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that JPMorgan Chase & Co. will post 22.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research analyst reports. HSBC boosted their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. Daiwa Securities Group cut their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Evercore boosted their target price on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Truist Financial upped their target price on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a “hold” rating in a report on Friday. Finally, Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus target price of $339.58.

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.