Haverford Trust Co Has $435.44 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Haverford Trust reduced its JPMorgan position by 2.1% in the second quarter, selling 28,786 shares. It still held 1.33 million shares worth approximately $435.4 million, representing 3.8% of its portfolio.
• JPMorgan reported strong quarterly results, with EPS of $6.14 and revenue of $58.02 billion, exceeding analyst expectations. The company also raised its quarterly dividend from $1.50 to $1.65 per share.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and a $359.96 price target, although insiders have sold 10,467 shares worth about $3.6 million over the past 90 days.

Haverford Trust Co reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,330,284 shares of the financial services provider's stock after selling 28,786 shares during the period. JPMorgan Chase & Co. accounts for approximately 3.8% of Haverford Trust Co's portfolio, making the stock its 3rd largest position. Haverford Trust Co owned 0.05% of JPMorgan Chase & Co. worth $435,442,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. MBM Wealth Consultants LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $29,000. Aventus Investment Advisors Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $33,000. Osbon Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $35,000. WHI TRUST Co LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $45,000. Finally, HFM Investment Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 120.7% during the fourth quarter. HFM Investment Advisors LLC now owns 192 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 105 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the sale, the insider owned 71,047 shares of the company's stock, valued at $25,066,092.07. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the firm's 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 completion of the transaction, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 10,467 shares of company stock valued at $3,593,651. Corporate 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

A number of analysts recently commented on the company. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $418.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Morgan Stanley restated a "positive" rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Finally, Robert W. Baird lifted their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $359.96.

JPMorgan Chase & Co. Trading Down 0.1%

NYSE:JPM opened at $348.92 on Friday. The company has a market cap of $927.49 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. The company has a 50 day simple moving average of $353.73 and a two-hundred day simple moving average of $323.85. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be paid a dividend of $1.65 per share. The ex-dividend date is Tuesday, October 6th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. JPMorgan Chase & Co.'s dividend payout ratio is presently 25.71%.

About JPMorgan Chase & Co.

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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