Private Advisor Group LLC Decreases Position in JPMorgan Chase & Co. $JPM

Private Advisor Group LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 365,394 shares of the financial services provider’s stock after selling 7,759 shares during the quarter. Private Advisor Group LLC’s holdings in JPMorgan Chase & Co. were worth $107,484,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Timmons Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $27,000. MBM Wealth Consultants LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $32,000. Osbon Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $35,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $35,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research reports. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Argus increased their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Monday. Finally, Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $345.33.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: UBS and Bank of America raised their price targets on JPMorgan Chase & Co. (NYSE: JPM), reinforcing a bullish outlook from major Wall Street firms.
• Positive Sentiment: JPMorgan Chase & Co. (NYSE: JPM) is approaching its July 14 earnings report with analysts expecting earnings growth and a potential beat.
• Positive Sentiment: Industry commentary suggests trading and investment-banking activity may have been strong in the second quarter, which could boost JPMorgan Chase & Co. (NYSE: JPM) results.
• Neutral Sentiment: Reports that big banks are exploring a payments deal to work around debit-card fee caps could be strategically important, but the direct impact on JPMorgan Chase & Co. (NYSE: JPM) remains uncertain.
• Neutral Sentiment: Several articles highlighted JPMorgan’s market commentary on currencies, semiconductors, and broader equities, which reflect the firm’s research activity more than a direct earnings driver.
• Neutral Sentiment: JPMorgan Chase & Co. (NYSE: JPM) ceased to be a substantial holder in Clarity Pharmaceuticals, a routine portfolio update with limited likely impact on the stock.

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 5,611 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. This trade represents a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% 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 33,623 shares of company stock worth $10,427,835 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $339.06 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $343.45. The stock’s fifty day moving average is $314.47 and its two-hundred day moving average is $309.35. The company has a market capitalization of $908.53 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.54 and a beta of 0.99. 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. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion for the quarter, compared to analyst estimates 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 was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.07 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 22.76 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company 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. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.

JPMorgan Chase & Co. 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.