JPMorgan Chase & Co. $JPM Shares Sold by Clear Harbor Asset Management LLC

Key Points

• Clear Harbor Asset Management reduced its JPMorgan stake by 6.3% in the second quarter, selling 6,571 shares and retaining 98,481 shares valued at approximately $32.2 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan reported strong quarterly results, with earnings of $6.14 per share and revenue of $58.02 billion, exceeding analyst estimates; revenue increased 27.7% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $359.96. The bank also raised its quarterly dividend to $1.65 per share, implying a 1.9% yield.

Clear Harbor Asset Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,481 shares of the financial services provider's stock after selling 6,571 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.0% of Clear Harbor Asset Management LLC's holdings, making the stock its 10th largest position. Clear Harbor Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $32,236,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of JPM. MBM Wealth Consultants LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth $29,000. Aventus Investment Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $33,000. Osbon Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $35,000. WHI TRUST Co LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $45,000. Finally, HFM Investment Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 120.7% during the 4th 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. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity

In other news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 in the company, valued at $25,066,092.07. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing 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 company's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares of the company's stock, valued at $13,547,031.53. The trade was a 11.78% 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. Insiders sold a total of 10,467 shares of company stock worth $3,593,651 in the last ninety days. Insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley reissued a "positive" rating and issued a $370.00 target price on shares of JPMorgan Chase & Co. 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 company a "neutral" rating in a report on Wednesday, July 15th. Barclays upped their price objective on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Evercore reissued an "outperform" rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Finally, Royal Bank Of Canada boosted their price target on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average price target of $359.96.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $348.92 on Friday. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50. 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 firm's 50 day moving average is $353.73 and its 200-day moving average is $323.85. The firm has a market capitalization of $927.49 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.44 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts' consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. During the same quarter last year, the business posted $4.96 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was up 27.7% compared to the same quarter last year. Sell-side analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be issued a $1.65 dividend. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 25.71%.

Trending Headlines about JPMorgan Chase & Co.

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

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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