First Horizon Corp Acquires 22,178 Shares of JPMorgan Chase & Co. $JPM

First Horizon Corp raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 16.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 156,688 shares of the financial services provider’s stock after purchasing an additional 22,178 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.9% of First Horizon Corp’s portfolio, making the stock its 5th largest holding. First Horizon Corp’s holdings in JPMorgan Chase & Co. were worth $46,091,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Roxbury Financial LLC grew its stake in shares of JPMorgan Chase & Co. by 0.4% in the 4th quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider’s stock valued at $2,581,000 after purchasing an additional 31 shares during the last quarter. 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 worth $1,076,000 after purchasing an additional 32 shares during the last quarter. Essential Planning LLC. raised its stake 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 last quarter. Tevis Investment Management lifted 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 lifted 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. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 5,611 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the completion of the sale, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. This represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer directly owned 90,001 shares in the company, valued at approximately $27,590,706.56. This trade represents a 9.22% decrease in their ownership of the stock. 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 valued at $10,427,835 over the last quarter. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JPM. Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Finally, Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, June 25th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $345.33.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $335.19 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $343.45. The business has a fifty day moving average of $316.28 and a 200-day moving average of $309.76. The stock has a market cap of $898.14 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results 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. The firm had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.07 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 22.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared 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 of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: Analysts and market coverage suggest JPMorgan could beat expectations on strong equities trading, investment banking, and overall banking-sector momentum heading into earnings. Bank Earnings Should Wow Wall Street. What’s Driving Those Bottom Lines.
• Positive Sentiment: Bank of America analysts said major U.S. banks, including JPMorgan, could surprise to the upside as capital-markets activity and wealth-management flows remain supportive. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
• Positive Sentiment: JPMorgan’s own research on AI investing agents drew attention after the bank said the models beat traditional 60/40 portfolios in backtests, reinforcing a perception of innovation and potential future product differentiation. JPMorgan Chase (JPM) Says Its AI Agents Beat 60 40 Portfolios In Backtests
• Neutral Sentiment: JPMorgan Asset Management also released a retirement survey and promoted an internal leadership change at Campbell Global; these are positive for the franchise but unlikely to move JPM stock materially on their own. J.P. Morgan Asset Management Survey Finds Plan Participants Want an “Easy Button” and More Retirement Income Support Campbell Global Appoints Michael Barbara to Head of Global Acquisitions
• Negative Sentiment: Headline risk remains from renewed scrutiny over JPMorgan’s historical relationship with Epstein and related political questioning of Dimon, which could weigh on sentiment even if it does not change fundamentals. Dimon pressed over whether he lobbied UK government on Epstein’s advice

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.