JPMorgan Chase & Co. $JPM Shares Sold by Welch & Forbes LLC

Key Points

• Welch & Forbes LLC cut its JPMorgan Chase stake by 2.0% in the first quarter, selling 13,050 shares and leaving it with 652,907 shares valued at about $192.1 million.
• Institutional ownership remains heavy, with several other funds increasing their positions and hedge funds and institutions holding about 71.55% of JPMorgan’s stock overall.
• Analysts stay constructive on JPMorgan despite a few mixed rating changes, with a consensus Moderate Buy and an average price target of $354.92.

Welch & Forbes LLC trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 652,907 shares of the financial services provider's stock after selling 13,050 shares during the quarter. JPMorgan Chase & Co. comprises about 2.5% of Welch & Forbes LLC's portfolio, making the stock its 8th biggest holding. Welch & Forbes LLC's holdings in JPMorgan Chase & Co. were worth $192,059,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. raised its stake in JPMorgan Chase & Co. by 0.4% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 748,885 shares of the financial services provider's stock valued at $220,292,000 after purchasing an additional 3,168 shares in the last quarter. Capital Squared Financial LLC raised its position in shares of JPMorgan Chase & Co. by 13.7% in the 1st quarter. Capital Squared Financial LLC now owns 4,100 shares of the financial services provider's stock valued at $1,206,000 after buying an additional 493 shares in the last quarter. Midwest Trust Co raised its position in shares of JPMorgan Chase & Co. by 1.5% in the 1st quarter. Midwest Trust Co now owns 448,341 shares of the financial services provider's stock valued at $131,884,000 after buying an additional 6,820 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of JPMorgan Chase & Co. by 46.7% during the 1st quarter. Fifth Third Bancorp now owns 3,307,677 shares of the financial services provider's stock worth $972,986,000 after acquiring an additional 1,053,505 shares during the period. Finally, Sovran Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 35.6% during the 1st quarter. Sovran Advisors LLC now owns 18,839 shares of the financial services provider's stock worth $5,901,000 after acquiring an additional 4,943 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on JPM shares. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 8th. Jefferies Financial Group set a $350.00 price target on JPMorgan Chase & Co. in a report on Tuesday. UBS Group upped their price objective on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Royal Bank Of Canada raised 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 note on Wednesday. Finally, Dbs Bank raised JPMorgan Chase & Co. to a "hold" rating in a report on Tuesday, May 12th. Fifteen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $354.92.

JPMorgan Chase & Co. Price Performance

JPM opened at $343.02 on Friday. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $351.24. The company has a market capitalization of $919.14 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.57 and a beta of 0.99. The firm's fifty day moving average price is $318.31 and its two-hundred day moving average price is $310.09. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 18.23% and a net margin of 21.86%.The business's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.07 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 22.95 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued 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 yield of 1.7%. JPMorgan Chase & Co.'s dividend payout ratio is 25.71%.

Key JPMorgan Chase & Co. News

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.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,919 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,876 shares of company stock worth $5,907,051 over the last quarter. Corporate insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Company 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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