JPMorgan Chase & Co. $JPM is Seneca House Advisors' 9th Largest Position

Key Points

• Seneca House Advisors cut its JPMorgan stake by 23.3% in the first quarter, selling 7,556 shares and leaving it with 24,893 shares worth about $7.32 million. JPMorgan remains its 9th-largest position, accounting for 2.9% of the portfolio.
• JPMorgan reported very strong Q2 results, including record net income of $21.2 billion and strong trading and investment banking performance. The company also raised its full-year net interest income outlook to $105.5 billion.
• Analysts and institutional investors remain broadly positive on JPM, with multiple firms lifting price targets after earnings and a consensus Wall Street rating of “Moderate Buy.” However, the article also notes some concerns about higher expenses and recent insider selling.

Seneca House Advisors reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 23.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,893 shares of the financial services provider's stock after selling 7,556 shares during the period. JPMorgan Chase & Co. comprises 2.9% of Seneca House Advisors' investment portfolio, making the stock its 9th biggest position. Seneca House Advisors' holdings in JPMorgan Chase & Co. were worth $7,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Roxbury Financial LLC raised its stake in shares of JPMorgan Chase & Co. by 0.4% during the 4th quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider's stock worth $2,581,000 after buying an additional 31 shares during the last quarter. Collective Family Office LLC boosted its position in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider's stock worth $1,076,000 after buying an additional 32 shares in the last quarter. Essential Planning LLC. grew its stake in JPMorgan Chase & Co. by 2.4% in the 4th quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider's stock valued at $451,000 after acquiring an additional 33 shares during the last quarter. Tevis Investment Management grew its stake in JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider's stock valued at $1,337,000 after acquiring an additional 34 shares during the last quarter. Finally, Spinnaker Investment Group LLC increased its holdings in JPMorgan Chase & Co. by 0.7% during the 4th quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider's stock valued at $1,670,000 after acquiring an additional 34 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting JPMorgan Chase & Co.

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.

JPMorgan Chase & Co. Trading Down 1.1%

Shares of JPM stock opened at $343.02 on Friday. The company has a market capitalization of $919.14 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.57 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a 50-day moving average price of $318.31 and a 200 day moving average price of $310.09. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $351.24.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results 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 company had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $5.07 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 22.95 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 22nd. The shares were 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 of the company's stock, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares of the company's stock, valued at $10,036,641.58. This trade represents a 8.52% 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 90 days, insiders have sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on JPM shares. Robert W. Baird lifted their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Wednesday. Royal Bank Of Canada increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an "outperform" rating in a research report on Wednesday. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Barclays upped their target price on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a research note on Wednesday. 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, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $354.92.

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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