JPMorgan Chase & Co. $JPM Holdings Decreased by Xcel Wealth Management LLC

Key Points

• Xcel Wealth Management LLC reduced its JPMorgan Chase stake by 9.9% in the first quarter, selling 4,216 shares and leaving it with 38,501 shares valued at about $11.3 million.
• JPMorgan reported strong first-quarter results, with EPS of $5.94 beating estimates and revenue of $50.54 billion topping expectations, while revenue rose 10% year over year.
• The bank continued to emphasize shareholder returns through a $1.50 quarterly dividend and a recently announced buyback plan, while analysts remain mixed overall with a consensus rating of Hold.

Xcel Wealth Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,501 shares of the financial services provider's stock after selling 4,216 shares during the period. JPMorgan Chase & Co. accounts for about 3.1% of Xcel Wealth Management LLC's portfolio, making the stock its 9th largest position. Xcel Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $11,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of JPM. Morgan Stanley raised its holdings in shares of JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock worth $21,390,662,000 after buying an additional 939,421 shares during the last quarter. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $11,396,496,000. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock valued at $7,547,837,000 after buying an additional 1,194,583 shares during the last quarter. Legal & General Group Plc increased its position in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock valued at $6,128,484,000 after acquiring an additional 110,586 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider's stock valued at $5,161,532,000 after acquiring an additional 296,213 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $329.85 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $343.45. The business's 50 day moving average is $311.85 and its two-hundred day moving average is $308.58. The company has a market capitalization of $883.83 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.53 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter last year, the business earned $5.07 earnings per share. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 22.43 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders 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 dividend yield of 1.8%. JPMorgan Chase & Co.'s dividend payout ratio is 28.74%.

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. Truist Financial raised their price objective on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the stock a "hold" rating in a research note on Friday. Dbs Bank upgraded JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Barclays restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $340.88.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan’s recently announced $50 billion buyback plan and expected dividend boost reinforce its capital strength and shareholder-friendly stance, which is helping sentiment toward the stock.
• Positive Sentiment: Morgan Stanley raised its price target on JPMorgan to $362 from $336 while maintaining an equal-weight rating, signaling further upside from current levels.
• Positive Sentiment: The Federal Reserve stress test results showed the largest U.S. banks, including JPMorgan, can withstand a severe downturn, which supports confidence in the bank’s balance sheet and capital return plans.
• Neutral Sentiment: JPMorgan’s leadership reshuffle and succession planning for Jamie Dimon are drawing attention, but the move appears orderly so far and is not yet a clear positive or negative catalyst.
• Neutral Sentiment: Some commentary highlighted JPMorgan’s continued strength as a long-term banking franchise, but these pieces were mostly opinion-driven and add limited new fundamental information.
• Negative Sentiment: Several analysts noted rising costs, interest-rate pressures, and asset-quality risks as reasons to remain cautious, which could limit how aggressively investors bid up the shares.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of 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 sale 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, COO Jennifer Piepszak sold 4,919 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 33,623 shares of company stock valued at $10,427,835. 0.41% of the stock is currently owned by insiders.

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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