Modern Wealth Management LLC Increases Stock Holdings in JPMorgan Chase & Co. $JPM

Modern Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,931 shares of the financial services provider’s stock after purchasing an additional 5,746 shares during the period. JPMorgan Chase & Co. makes up 0.8% of Modern Wealth Management LLC’s holdings, making the stock its 29th biggest holding. Modern Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $48,422,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Timmons Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $32,000. MBM Wealth Consultants LLC purchased a new position in JPMorgan Chase & Co. in the first quarter worth approximately $29,000. Osbon Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth $35,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in JPMorgan Chase & Co. during the third quarter worth $35,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings cut JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. HSBC raised their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Wednesday, July 22nd. Finally, Barclays increased their target price on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $358.67.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 completion of the transaction, the chief operating officer owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,876 shares of company stock valued at $5,907,051 in the last three months. 0.41% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.8%

NYSE:JPM opened at $356.15 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $359.05. The stock’s fifty day moving average is $324.84 and its two-hundred day moving average is $311.12. The stock has a market capitalization of $954.30 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company’s revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.96 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 23.97 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

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.