Diversify Wealth Management LLC Has $22.14 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Diversify Wealth Management LLC more than doubled its stake in JPMorgan Chase during the first quarter, increasing holdings by 117.2% to 71,589 shares valued at about $22.14 million.
• JPMorgan’s recent earnings report was very strong, with record Q2 net income of $21.2 billion and analysts responding by raising price targets on the stock.
• The bank also raised its full-year net interest income outlook to $105.5 billion, reinforcing confidence in its core lending business and overall profitability.

Diversify Wealth Management LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 117.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,589 shares of the financial services provider's stock after acquiring an additional 38,634 shares during the period. Diversify Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $22,139,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of JPM. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth $11,396,496,000. Cardano Risk Management B.V. raised its position 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 valued at $2,794,785,000 after buying an additional 7,796,814 shares during the last quarter. American Assets Investment Management LLC raised its position in shares of JPMorgan Chase & Co. by 1,172.2% during 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 buying an additional 2,081,800 shares during the last quarter. Viking Global Investors LP lifted its stake in shares of JPMorgan Chase & Co. by 86.1% in the second quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider's stock valued at $1,171,826,000 after buying an additional 1,870,386 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $474,516,000. Institutional investors own 71.55% of the company's stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan reported blowout Q2 results, including record net income of $21.2 billion, with CEO Jamie Dimon saying the economy remains “close to as good as it gets.” The bank also posted strong trading and investment banking performance. 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 turned more bullish after earnings, with Bank of America, Keefe, Bruyette & Woods, and Truist all lifting price targets, reflecting confidence in JPMorgan’s profitability, capital flexibility, and guidance for stronger net interest income. Analyst price-target updates
• Positive Sentiment: JPMorgan raised its full-year net interest income outlook to $105.5 billion, signaling that core lending revenue remains resilient even after the Federal Reserve’s policy changes. JPMorgan Chase Just Posted 86% Growth in Equities Trading Revenue and Raised Its Full-Year Net Interest Income Guidance to $105.5 Billion
• Neutral Sentiment: JPMorgan continued to show market leadership and a path toward a possible $1 trillion valuation, helped by its scale in lending, trading, and dealmaking, but that milestone may also be encouraging some short-term profit taking after the stock’s sharp run. Dimon-led JPMorgan poised to become world's first $1 trillion bank
• Neutral Sentiment: The bank also announced a $24 million investment in Philadelphia shipbuilding and defense manufacturing, which supports its long-term industrial finance strategy but is unlikely to move the stock materially by itself. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Some commentary focused on JPMorgan’s higher expense outlook following earnings, suggesting costs could rise faster than investors expected and tempering enthusiasm after the strong report. Its Dividend Looks Secure, But Don’t Chase JPM Stock After Q2 Earnings. Here’s Why.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on JPM shares. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday. DZ Bank reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. UBS Group boosted their price objective on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 8th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $354.92.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $343.02 on Friday. The business has a 50 day simple moving average of $318.31 and a 200 day simple moving average of $310.09. 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 company has a market capitalization of $919.14 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $351.24.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 18.23% and a net margin of 21.86%.The business'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 company posted $5.07 earnings per share. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.95 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared 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. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. JPMorgan Chase & Co.'s payout ratio is 25.71%.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the sale, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company's stock, valued at $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 18,876 shares of company stock valued at $5,907,051. 0.41% of the stock is currently owned by insiders.

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.

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