Hoertkorn Richard Charles Has $8.48 Million Holdings in JPMorgan Chase & Co. $JPM

Hoertkorn Richard Charles reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 41.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,831 shares of the financial services provider’s stock after selling 20,635 shares during the period. JPMorgan Chase & Co. makes up about 7.0% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 4th biggest position. Hoertkorn Richard Charles’ holdings in JPMorgan Chase & Co. were worth $8,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $11,396,496,000. Cardano Risk Management B.V. grew its stake in shares of JPMorgan Chase & Co. by 889.3% during the fourth quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after purchasing an additional 7,796,814 shares during the period. Danske Bank A S bought a new stake in JPMorgan Chase & Co. in the third quarter valued at about $696,885,000. American Assets Investment Management LLC increased its holdings in JPMorgan Chase & Co. by 1,172.2% in the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock valued at $728,024,000 after purchasing an additional 2,081,800 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in JPMorgan Chase & Co. by 1,033.3% in the third quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock valued at $679,790,000 after buying an additional 1,964,958 shares during the period. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.4%

Shares of NYSE:JPM opened at $335.19 on Tuesday. The firm has a market cap of $898.14 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.53 and a beta of 0.99. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $343.45. The company’s fifty day simple moving average is $316.28 and its 200 day simple moving average is $309.76. 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 announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The firm had revenue of $50.54 billion during 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%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.07 EPS. As a group, research analysts forecast that JPMorgan Chase & Co. will post 22.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is 28.74%.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Analysts and market coverage suggest JPMorgan could beat expectations on strong equities trading, investment banking, and overall banking-sector momentum heading into earnings. Bank Earnings Should Wow Wall Street. What’s Driving Those Bottom Lines.
• Positive Sentiment: Bank of America analysts said major U.S. banks, including JPMorgan, could surprise to the upside as capital-markets activity and wealth-management flows remain supportive. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
• Positive Sentiment: JPMorgan’s own research on AI investing agents drew attention after the bank said the models beat traditional 60/40 portfolios in backtests, reinforcing a perception of innovation and potential future product differentiation. JPMorgan Chase (JPM) Says Its AI Agents Beat 60 40 Portfolios In Backtests
• Neutral Sentiment: JPMorgan Asset Management also released a retirement survey and promoted an internal leadership change at Campbell Global; these are positive for the franchise but unlikely to move JPM stock materially on their own. J.P. Morgan Asset Management Survey Finds Plan Participants Want an “Easy Button” and More Retirement Income Support Campbell Global Appoints Michael Barbara to Head of Global Acquisitions
• Negative Sentiment: Headline risk remains from renewed scrutiny over JPMorgan’s historical relationship with Epstein and related political questioning of Dimon, which could weigh on sentiment even if it does not change fundamentals. Dimon pressed over whether he lobbied UK government on Epstein’s advice

Insider Activity

In other news, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the transaction, 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 ownership of the stock. The transaction 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. Also, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction dated Monday, June 22nd. The stock was 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 of the company’s stock, valued at approximately $13,547,031.53. The trade was a 11.78% 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. Insiders have sold a total of 33,623 shares of company stock worth $10,427,835 over the last three months. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, July 6th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, June 25th. Autonomous Res cut their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Daiwa Securities Group reduced their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $345.33.

About JPMorgan Chase & Co.

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.