Aberdeen Wealth Management LLC Reduces Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Aberdeen Wealth Management cut its JPMorgan stake by 70.3% in the second quarter, selling 10,523 shares and retaining 4,439 shares valued at approximately $1.45 million.
• Institutional investors own 71.55% of JPMorgan’s stock, while insiders sold 10,467 shares worth $3.59 million over the past three months, primarily through pre-arranged trading plans.
• JPMorgan reported better-than-expected quarterly results, with revenue up 27.7% year over year, and raised its quarterly dividend to $1.65 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of $359.96.

Aberdeen Wealth Management LLC trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 70.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,439 shares of the financial services provider's stock after selling 10,523 shares during the quarter. JPMorgan Chase & Co. makes up 0.7% of Aberdeen Wealth Management LLC's investment portfolio, making the stock its 23rd largest position. Aberdeen Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of JPM. Arkansas Financial Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 1.1% in the second quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock worth $873,000 after purchasing an additional 30 shares during the last quarter. Flynn Zito Capital Management LLC boosted its position in JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider's stock valued at $926,000 after buying an additional 30 shares during the period. Wedgewood Investors Inc. PA grew its holdings in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Wedgewood Investors Inc. PA now owns 2,059 shares of the financial services provider's stock worth $674,000 after acquiring an additional 30 shares during the last quarter. WealthBridge Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 0.3% in the 2nd quarter. WealthBridge Capital Management LLC now owns 10,503 shares of the financial services provider's stock worth $3,438,000 after acquiring an additional 31 shares during the last quarter. Finally, LightSquare Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.1% in the second quarter. LightSquare Wealth Management LLC now owns 2,952 shares of the financial services provider's stock valued at $966,000 after acquiring an additional 31 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel directly owned 40,961 shares of the company's stock, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the transaction, the insider owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. The trade was a 3.40% 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 10,467 shares of company stock valued at $3,593,651 in the last three months. Insiders own 0.41% of the company's stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Strong third-quarter revenue outlook: JPMorgan expects investment-banking fees and Markets revenue to increase in the mid-to-high teens year over year. A robust deal pipeline and trading activity suggest continued strength in fee income and support expectations for another strong quarter. JPMorgan Sees Investment Banking and Trading Powering Q3 Growth
• Positive Sentiment: Higher rates may support lending revenue: Following the Federal Reserve’s rate increase, JPMorgan and other major banks raised prime lending rates to 7%. This could improve asset yields and net interest income, although deposit costs and borrower demand remain important offsets. U.S. Banks Raise Prime Interest Rates Following Fed Hike
• Positive Sentiment: Shareholder-return and franchise catalysts: Analysts highlighted JPMorgan’s planned quarterly dividend increase to $1.65, while new mandates—including financing Drax’s solar acquisition and Canada airport concessions—could add to advisory and underwriting revenue. JPMorgan Dividend and Long-Term Outlook
• Neutral Sentiment: Continued strategic visibility: JPMorgan will report third-quarter results on October 13. The bank is also hosting its India conference and pursuing a large, multiyear U.S. housing initiative, developments that reinforce its global reach but are unlikely to materially affect near-term earnings. JPMorgan Third-Quarter Earnings Call Announcement
• Negative Sentiment: Inflation and oil risks remain overhangs: CEO Jamie Dimon said inflation has not clearly been defeated. Separately, JPMorgan’s commodities team abandoned a firm oil-price forecast as the prolonged Iran conflict pushed Brent above $100 per barrel. Persistent inflation could delay rate cuts, raise credit risks and increase market volatility. Jamie Dimon on Inflation

Wall Street Analyst Weigh In

Several brokerages have recently commented on JPM. Morgan Stanley reaffirmed a "positive" rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Bank of America upped their price target on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Weiss Ratings upgraded JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, September 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $418.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $359.96.

JPMorgan Chase & Co. Stock Down 0.1%

JPM stock opened at $348.92 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The company has a market capitalization of $927.49 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The business's 50 day moving average price is $353.73 and its two-hundred day moving average price is $323.85. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $58.02 billion during the quarter, compared to analysts' expectations of $50.72 billion. During the same quarter last year, the business posted $4.96 EPS. The firm's revenue for the quarter was up 27.7% compared to the same quarter last year. As a group, analysts forecast that JPMorgan Chase & Co. will post 24.3 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. This is a positive change 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 currently 25.71%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

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

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