NewEdge Advisors LLC Decreases Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• NewEdge Advisors reduced its JPMorgan stake by 1.6% in the first quarter, selling 23,482 shares but retaining 1.43 million shares valued at approximately $422.1 million. Institutional investors and hedge funds collectively own 71.55% of the company.
• Analysts maintain a generally positive outlook, with JPMorgan carrying a consensus “Moderate Buy” rating and an average price target of $359.33; several firms recently raised their targets, including Royal Bank of Canada to $370.
• JPMorgan reported quarterly EPS of $6.14 and revenue of $58.02 billion, exceeding estimates, while revenue increased 27.7% year over year. The bank also paid a $1.50 quarterly dividend, equivalent to a 1.7% yield.

NewEdge Advisors LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,434,818 shares of the financial services provider's stock after selling 23,482 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.5% of NewEdge Advisors LLC's holdings, making the stock its 6th largest holding. NewEdge Advisors LLC owned approximately 0.05% of JPMorgan Chase & Co. worth $422,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Acorns Advisers LLC lifted its position in shares of JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC grew its stake in shares of JPMorgan Chase & Co. by 0.7% during the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock valued at $3,185,000 after purchasing an additional 78 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $1,475,000. Finally, Betterment LLC increased its holdings in shares of JPMorgan Chase & Co. by 27.5% in the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock valued at $571,000 after purchasing an additional 425 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Weiss Ratings cut JPMorgan Chase & Co. from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, July 21st. Argus upped their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. HSBC raised their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada lifted their price objective on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $359.33.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction 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 sale, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.6%

NYSE JPM opened at $359.62 on Thursday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $363.00. The stock has a 50-day simple moving average of $331.96 and a 200 day simple moving average of $312.78. 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 company has a market capitalization of $963.59 billion, a PE ratio of 15.41, a P/E/G ratio of 1.47 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The firm had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company's revenue was up 27.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.96 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 24.27 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: New active ETF expands asset-management offerings. J.P. Morgan Asset Management launched the JLVP ETF, which combines a value-oriented large-cap portfolio with a limited short position. The temporary 0.49% management fee could help attract assets and generate additional recurring fee revenue, though the product’s direct impact on JPMorgan’s earnings is likely modest. JPMorgan's New JLVP ETF Can Bet Both for and Against Stocks
• Positive Sentiment: Dimon leads a cross-industry AI risk initiative. CEO Jamie Dimon is reportedly recruiting banks, technology companies, utilities and other corporations for a JPMorgan-backed alliance focused on AI cybersecurity and critical-infrastructure risks. The effort could strengthen JPMorgan’s leadership profile in technology and risk management, although it is not expected to have an immediate material earnings effect. JPMorgan CEO Dimon leads new cross-industry effort to tackle AI risks
• Positive Sentiment: JPMorgan goes live with Swift’s faster international-transfer service. The initiative with Bank of America is designed to improve cross-border payments for consumers and small businesses. It may support customer retention and future payments-related revenue while reinforcing JPMorgan’s global transaction-banking franchise. Swift Announces Step Forward in International Money Transfers
• Neutral Sentiment: Large housing commitment offers growth potential but carries execution risk. JPMorgan plans to deploy more than $750 billion through 2035 to support housing supply and homeownership. The initiative could expand lending and investment opportunities, but its long time horizon and potential credit, regulatory and capital-allocation risks limit its near-term stock impact. JPMorgan to pour $750 billion into housing in next decade
• Negative Sentiment: Higher-for-longer rate risk could pressure markets and credit demand. JPMorgan reportedly brought forward its forecast for a possible Federal Reserve rate hike, citing inflation concerns and the Fed chair’s guidance. Higher rates can support bank net-interest income initially, but could also weaken loan demand, increase funding costs and raise recession or credit-loss concerns. JPMorgan Says Fed Chair Kevin Warsh's Press Conference Could Force a Rate Hike

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.

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