Sanctuary Advisors LLC Raises Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Sanctuary Advisors LLC increased its JPMorgan Chase stake by 2.3% in the first quarter, adding 16,144 shares to bring its total to 718,193 shares worth about $211.3 million.
• JPMorgan continues to draw strong institutional interest, with hedge funds and other investors owning 71.55% of the stock overall and several firms recently opening new positions.
• The article highlights a broadly positive backdrop for JPMorgan, including record Q2 earnings, rising analyst price targets, and expectations that the bank may boost its quarterly dividend after passing the Fed stress test.

Sanctuary Advisors LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 718,193 shares of the financial services provider's stock after purchasing an additional 16,144 shares during the period. JPMorgan Chase & Co. comprises 1.1% of Sanctuary Advisors LLC's investment portfolio, making the stock its 11th biggest position. Sanctuary Advisors LLC's holdings in JPMorgan Chase & Co. were worth $211,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Timmons Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $27,000. MBM Wealth Consultants LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $32,000. Osbon Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $35,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Key Headlines Impacting JPMorgan Chase & Co.

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. Price Performance

Shares of NYSE:JPM opened at $341.60 on Monday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $351.24. The firm has a market capitalization of $915.33 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.52 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The company's fifty day moving average price is $319.11 and its 200 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 given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 25.71%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. Zacks Research upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Bank of America raised their price target on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a "buy" rating in a research note on Thursday. Argus lifted their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Jefferies Financial Group set a $350.00 price objective on JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Finally, DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $354.92.

Insider Activity

In related news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. This represents a 10.54% 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. Insiders have sold 18,876 shares of company stock valued at $5,907,051 in the last ninety days. 0.41% of the stock is currently owned by company insiders.

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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