JPMorgan Chase & Co. $JPM Shares Sold by Milestones Private Investment Advisors LLC

Milestones Private Investment Advisors LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 69.3% in the 1st quarter, HoldingsChannel reports. The firm owned 868 shares of the financial services provider’s stock after selling 1,963 shares during the quarter. Milestones Private Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $255,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley raised its position in JPMorgan Chase & Co. by 1.4% during the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after buying an additional 939,421 shares during the last quarter. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $11,396,496,000. Bank of New York Mellon Corp boosted its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after acquiring an additional 1,194,583 shares during the last quarter. Legal & General Group Plc increased its stake in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after acquiring an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after acquiring an additional 296,213 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $341.60 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The firm has a fifty day moving average price of $319.11 and a 200 day moving average price of $310.31. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $351.24. The stock has a market cap of $915.33 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.53 and a beta of 0.99.

JPMorgan Chase & Co. Announces Dividend

The company 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 $1.50 dividend. 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 payout ratio is presently 25.71%.

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at $10,036,641.58. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. The trade was a 10.54% 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. Over the last quarter, insiders sold 18,876 shares of company stock worth $5,907,051. Company insiders own 0.41% of the company’s stock.

Trending Headlines about JPMorgan Chase & Co.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JPM. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Jefferies Financial Group set a $350.00 price target on JPMorgan Chase & Co. in a research report on Tuesday. Royal Bank Of Canada lifted their price objective on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group reissued a “buy” rating and issued a $418.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday. Finally, Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, July 6th. One equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.92.

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.