JPMorgan Chase & Co. $JPM Stock Position Cut by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,996 shares of the financial services provider’s stock after selling 2,678 shares during the period. JPMorgan Chase & Co. makes up 2.6% of Manitou Investment Management Ltd.’s portfolio, making the stock its 12th biggest position. Manitou Investment Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $13,747,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Sterling Group Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Sterling Group Wealth Management LLC now owns 4,020 shares of the financial services provider’s stock valued at $1,183,000 after acquiring an additional 33 shares during the period. Vestia Personal Wealth Advisors lifted its position in JPMorgan Chase & Co. by 2.7% in the fourth quarter. Vestia Personal Wealth Advisors now owns 1,294 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 34 shares during the period. South Street Advisors LLC boosted its stake in JPMorgan Chase & Co. by 0.4% during the 4th quarter. South Street Advisors LLC now owns 9,421 shares of the financial services provider’s stock valued at $3,036,000 after purchasing an additional 34 shares in the last quarter. Continental Investors Services Inc. boosted its stake in JPMorgan Chase & Co. by 4.9% during the 4th quarter. Continental Investors Services Inc. now owns 722 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 34 shares in the last quarter. Finally, Beacon Financial Advisory LLC increased its position in shares of JPMorgan Chase & Co. by 0.3% during the 1st quarter. Beacon Financial Advisory LLC now owns 11,598 shares of the financial services provider’s stock valued at $3,412,000 after purchasing an additional 34 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JPM has been the topic of a number of research reports. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Finally, Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the company an “overweight” rating in a 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $359.33.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Payments expansion: JPMorgan Payments’ U.S. Commerce Platform now offers Klarna’s pay-in-full, installment and financing options without requiring merchants to complete a separate integration. The partnership could improve merchant adoption, transaction volumes and fee revenue. Klarna Goes Live With J.P. Morgan Payments
• Positive Sentiment: New asset-management product: J.P. Morgan Asset Management launched the JLVP active ETF, which combines a value-oriented large-cap portfolio with a limited short position. The product broadens JPMorgan’s fee-generating investment lineup, although the near-term earnings impact is likely limited. JPMorgan’s New JLVP ETF
• Neutral Sentiment: Regulatory filing: JPMorgan filed its Form 10-Q for the quarter ended June 30 with the SEC. The filing is a required disclosure, and the announcement provided no new financial details or outlook changes. JPMorganChase Files Form 10-Q
• Neutral Sentiment: Reports that JPMorgan reduced or exited substantial-holder positions in Cochlear and Hexagon Composites concern investment holdings and do not indicate a change in JPMorgan’s operating outlook. JPMorgan exits substantial holder position in Cochlear
• Negative Sentiment: Macro and market-risk concerns: Dimon said margin debt is at a record level and that leverage embedded in hedge funds, prime brokerages and leveraged ETFs could amplify volatility. He also cautioned that heavy AI-related capital spending, fiscal deficits and military expenditures may keep inflation elevated, potentially sustaining higher interest rates. Jamie Dimon warns of high leverage
• Negative Sentiment: Sector pressure: Financial stocks traded lower during the afternoon, creating a broad-market drag on JPMorgan independent of company-specific news. Sector Update: Financial Stocks Softer

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $356.29 on Friday. The firm’s 50 day simple moving average is $333.16 and its 200-day simple moving average is $313.09. The company has a market cap of $954.68 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.48 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. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $363.00.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Monday, July 6th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 25.71%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction that occurred 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 transaction, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company’s stock.

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.