Harel Insurance Investments & Financial Services Ltd. Sells 148,774 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Harel Insurance Investments & Financial Services Ltd. cut its JPMorgan Chase stake by 85.8% in the first quarter, selling 148,774 shares and ending with 24,545 shares valued at about $7.2 million.
• JPMorgan’s recent operating results remain very strong, with record Q2 profits, net income up 41%, and raised full-year net interest income guidance helping drive upbeat sentiment and higher analyst expectations.
• The bank continues to show shareholder-friendly fundamentals, including a quarterly dividend of $1.50 per share and expectations that it may raise the payout further after passing the Fed stress test.

Harel Insurance Investments & Financial Services Ltd. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 85.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,545 shares of the financial services provider's stock after selling 148,774 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in JPMorgan Chase & Co. were worth $7,217,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC lifted its position in shares of JPMorgan Chase & Co. by 7.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider's stock valued at $22,580,000 after acquiring an additional 5,101 shares in the last quarter. Howard Capital Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock worth $8,308,000 after acquiring an additional 3,976 shares during the period. Newbridge Financial Services Group Inc. grew its position in shares of JPMorgan Chase & Co. by 51.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock worth $2,862,000 after purchasing an additional 3,027 shares in the last quarter. Brighton Jones LLC grew its position in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Finally, KTF Investments LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $6,449,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. News Roundup

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

Insider Activity

In related news, 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 completion of the transaction, the chief operating officer directly owned 85,082 shares of the company's stock, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the business's stock in a transaction on 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 completion of the sale, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% 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. In the last ninety days, insiders sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $341.60 on Monday. The stock has a market capitalization of $915.33 billion, a PE ratio of 14.64, a P/E/G ratio of 1.52 and a beta of 0.99. The business has a 50 day simple moving average of $319.11 and a two-hundred day simple moving average of $310.21. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $351.24.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. 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 dividend payout ratio is currently 25.71%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on JPM shares. HSBC boosted their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Wednesday. Daiwa Securities Group lowered their target price on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Finally, Morgan Stanley restated a "positive" rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $354.92.

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.

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