Hillsdale Investment Management Inc. Grows Position in JPMorgan Chase & Co. $JPM

Hillsdale Investment Management Inc. raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 8.3% in the first quarter, HoldingsChannel.com reports. The fund owned 31,132 shares of the financial services provider’s stock after purchasing 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.

Several other institutional investors and hedge funds have also made changes to their positions in JPM. Fortress Financial Solutions LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.8% during the first quarter. Fortress Financial Solutions LLC now owns 1,849 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 101 shares during the last quarter. Calamos Wealth Management LLC lifted 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 in the last quarter. Calamos Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 12.9% during the 1st quarter. Calamos Advisors LLC now owns 804,936 shares of the financial services provider’s stock worth $236,780,000 after purchasing an additional 91,741 shares during the last quarter. AMG National Trust Bank boosted its stake in shares of JPMorgan Chase & Co. by 16.6% during the 1st quarter. AMG National Trust Bank now owns 78,306 shares of the financial services provider’s stock worth $23,034,000 after purchasing an additional 11,144 shares during the last quarter. Finally, Mattern Capital Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.4% during the first quarter. Mattern Capital Management LLC now owns 5,195 shares of the financial services provider’s stock worth $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.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $341.60 on Friday. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $351.24. The stock has a market capitalization of $915.33 billion, a P/E ratio of 14.64, a PEG ratio of 1.53 and a beta of 0.99. 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 business’s fifty day moving average price is $319.11 and its 200 day moving average price is $310.31.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Evercore reaffirmed an “outperform” rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Truist Financial increased their price target on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Autonomous Res decreased their price objective on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $354.92.

JPMorgan Chase & Co. News Summary

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

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the transaction, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. This trade represents a 5.47% 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. In the last quarter, insiders sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is currently owned by company 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.