NFSG Corp Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• NFSG Corp cut its JPMorgan stake by 55.5% in the first quarter, selling 4,930 shares and leaving it with 3,953 shares valued at about $1.163 million.
• JPMorgan insiders also sold shares: COO Jennifer Piepszak and CFO Jeremy Barnum both reduced holdings in pre-arranged 10b5-1 trades, and insiders have sold 18,876 shares worth about $5.9 million over the last 90 days.
• Despite the sales, JPMorgan remains supported by strong fundamentals and bullish analyst sentiment, with Q2 earnings strength, higher dividend expectations, and a consensus “Moderate Buy” rating with an average price target of $354.92.

NFSG Corp reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 55.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,953 shares of the financial services provider's stock after selling 4,930 shares during the quarter. NFSG Corp's holdings in JPMorgan Chase & Co. were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after acquiring an additional 4,841 shares during the period. Acorns Advisers LLC grew its holdings in JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after purchasing an additional 100 shares during the period. Ignite Planners LLC increased its position in 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 worth $3,185,000 after purchasing an additional 78 shares during the last quarter. Jump Financial LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth approximately $1,475,000. Finally, Betterment LLC raised its stake in JPMorgan Chase & Co. by 27.5% during the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock worth $571,000 after purchasing an additional 425 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction on 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 transaction, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 company's stock in a transaction 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 sale, the chief financial officer directly owned 32,438 shares of the company's stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is currently owned by corporate insiders.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. 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 have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

JPMorgan Chase & Co. Trading Up 0.1%

Shares of JPM stock opened at $341.60 on Monday. The stock has a market cap of $915.33 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $351.24. The firm's 50 day moving average price is $319.11 and its two-hundred day moving average price is $310.21.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 25.71%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on JPM shares. Argus lifted their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. 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 report on Tuesday, July 7th. Jefferies Financial Group set a $350.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $354.92.

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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