Whalen Wealth Management Inc. Cuts Stock Position in JPMorgan Chase & Co. $JPM

Whalen Wealth Management Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 26.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,856 shares of the financial services provider’s stock after selling 2,852 shares during the period. JPMorgan Chase & Co. makes up approximately 1.1% of Whalen Wealth Management Inc.’s holdings, making the stock its 25th biggest position. Whalen Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,599,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in JPM. State Street Corp lifted its holdings in JPMorgan Chase & Co. by 0.8% in the second quarter. State Street Corp now owns 125,209,293 shares of the financial services provider’s stock worth $40,984,758,000 after purchasing an additional 932,632 shares during the period. Bank of America Corp DE raised its position in shares of JPMorgan Chase & Co. by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 69,666,753 shares of the financial services provider’s stock worth $22,804,018,000 after buying an additional 4,006,293 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of JPMorgan Chase & Co. by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider’s stock worth $7,084,339,000 after buying an additional 540,362 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,833,413 shares of the financial services provider’s stock worth $6,164,741,000 after acquiring an additional 134,634 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of JPMorgan Chase & Co. by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider’s stock worth $5,578,788,000 after acquiring an additional 607,288 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: Analyst target implies upside: TD Cowen initiated coverage with a “hold” rating and a $370 price target, indicating potential appreciation from recent levels despite the cautious recommendation. TD Cowen initiates JPMorgan coverage
• Positive Sentiment: Dividend growth supports the investment case: JPMorgan recently increased its dividend by 10%, a move viewed as evidence of strong earnings and capital-generation capacity. JPMorgan dividend increase
• Positive Sentiment: Business expansion continues: Chase is adding payroll capabilities to its business-banking platform, potentially deepening relationships with commercial clients and creating additional fee opportunities. Chase adds payroll services
• Neutral Sentiment: Q3 earnings are the next major catalyst: Analysts are evaluating net interest income, loan growth, credit provisions, investment-banking activity and expense trends ahead of the company’s expected October 13 report. Expectations call for year-over-year earnings growth, but elevated investor expectations could increase volatility. JPMorgan Q3 earnings preview
• Negative Sentiment: Rising long-term Treasury yields are a headwind: JPMorgan strategists say the 30-year yield approaching 6% reflects concerns about government debt and could hurt small- and mid-cap borrowers, market valuations and broader risk appetite. JPMorgan flags rising Treasury yields
• Negative Sentiment: Dimon’s warnings reinforce macro concerns: The CEO has cautioned that sticky inflation, higher rates, a bond-market selloff and competition for capital could squeeze corporate borrowers. Analysts also note that sharply rising yields can pressure banks through bond-market losses, funding costs and weaker loan demand. Banks under pressure from spiking yields
• Negative Sentiment: Housing weakness poses an indirect risk: JPMorgan says U.S. housing affordability is near financial-crisis lows and that the market is effectively frozen, signaling potential pressure on mortgage activity, consumer finances and credit quality. JPMorgan comments on housing affordability

JPMorgan Chase & Co. Stock Down 0.1%

Shares of JPM traded down $0.31 during trading hours on Thursday, reaching $329.27. The company’s stock had a trading volume of 3,271,750 shares, compared to its average volume of 9,204,717. The company has a 50 day moving average of $351.12 and a two-hundred day moving average of $328.32. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The firm has a market cap of $875.26 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.36 and a beta of 1.02. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. During the same period last year, the company earned $4.96 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 27.7% compared to the same quarter last year. As a group, research analysts predict that JPMorgan Chase & Co. will post 24.16 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 28.28%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the sale, the insider owned 71,047 shares of the company’s stock, valued at $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on JPM shares. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday. They issued a “hold” rating and a $370.00 price objective for the company. Truist Financial lifted their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Finally, Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $362.88.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.