JPMorgan Chase & Co. $JPM Holdings Boosted by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its stake in JPMorgan Chase by 2.5% in the first quarter, adding 12,064 shares to bring its total to 492,565 shares valued at about $144.9 million.
• Wall Street sentiment remains broadly positive, with several analysts raising price targets and the stock carrying a Moderate Buy consensus and average target price of $358.67.
• JPMorgan reported strong second-quarter results, beating earnings and revenue estimates, and also declared a quarterly dividend of $1.50 per share to be paid on July 31.

NewEdge Wealth LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 492,565 shares of the financial services provider's stock after buying an additional 12,064 shares during the quarter. JPMorgan Chase & Co. accounts for 1.7% of NewEdge Wealth LLC's portfolio, making the stock its 8th largest position. NewEdge Wealth LLC's holdings in JPMorgan Chase & Co. were worth $144,893,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Timmons Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $32,000. MBM Wealth Consultants LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $29,000. Osbon Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth $35,000. Finally, Turning Point Benefit Group Inc. purchased a new position in JPMorgan Chase & Co. in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the subject of several recent research reports. Weiss Ratings downgraded shares of JPMorgan Chase & Co. from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Robert W. Baird lifted their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Daiwa Securities Group lowered their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Finally, Zacks Research upgraded JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $358.67.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the company's stock in a transaction that occurred 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 transaction, the general counsel owned 46,428 shares of the company's stock, valued at $13,940,935.56. This represents a 10.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer 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 position. 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 18,876 shares of company stock worth $5,907,051 in the last 90 days. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $352.88 on Friday. The firm has a market cap of $945.55 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.56 and a beta of 0.99. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $353.37. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The company's fifty day simple moving average is $323.74 and its two-hundred day simple moving average is $311.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company's quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 23.97 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is currently 25.71%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.