BIP Wealth LLC Sells 2,482 Shares of JPMorgan Chase & Co. $JPM

BIP Wealth LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 16.1% during the 1st quarter, Holdings Channel reports. The firm owned 12,929 shares of the financial services provider’s stock after selling 2,482 shares during the quarter. BIP Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $3,803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Kelman Lazarov Inc. grew its holdings in JPMorgan Chase & Co. by 15.0% during the 1st quarter. Kelman Lazarov Inc. now owns 1,431 shares of the financial services provider’s stock valued at $421,000 after buying an additional 187 shares in the last quarter. Baer Investment Advisory LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $1,298,000. Counterweight Ventures LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 1st quarter. Counterweight Ventures LLC now owns 15,533 shares of the financial services provider’s stock worth $4,569,000 after acquiring an additional 233 shares in the last quarter. Canal Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.4% during the 1st quarter. Canal Capital Management LLC now owns 46,502 shares of the financial services provider’s stock worth $13,679,000 after acquiring an additional 1,111 shares in the last quarter. Finally, First Dallas Securities Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Dallas Securities Inc. now owns 13,218 shares of the financial services provider’s stock valued at $3,888,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 9,136 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer directly owned 90,001 shares in the company, valued at $27,590,706.56. This trade represents a 9.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 value of $1,641,876.36. Following the sale, the general counsel directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 33,623 shares of company stock valued at $10,427,835 over the last quarter. 0.41% of the stock is owned by corporate insiders.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: UBS and Bank of America raised their price targets on JPMorgan Chase & Co. (NYSE: JPM), reinforcing a bullish outlook from major Wall Street firms.
• Positive Sentiment: JPMorgan Chase & Co. (NYSE: JPM) is approaching its July 14 earnings report with analysts expecting earnings growth and a potential beat.
• Positive Sentiment: Industry commentary suggests trading and investment-banking activity may have been strong in the second quarter, which could boost JPMorgan Chase & Co. (NYSE: JPM) results.
• Neutral Sentiment: Reports that big banks are exploring a payments deal to work around debit-card fee caps could be strategically important, but the direct impact on JPMorgan Chase & Co. (NYSE: JPM) remains uncertain.
• Neutral Sentiment: Several articles highlighted JPMorgan’s market commentary on currencies, semiconductors, and broader equities, which reflect the firm’s research activity more than a direct earnings driver.
• Neutral Sentiment: JPMorgan Chase & Co. (NYSE: JPM) ceased to be a substantial holder in Clarity Pharmaceuticals, a routine portfolio update with limited likely impact on the stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Finally, Evercore reaffirmed an “outperform” rating and issued a $360.00 price target on shares of JPMorgan Chase & Co. in a report on Monday. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $345.33.

JPMorgan Chase & Co. Stock Up 0.4%

Shares of JPM opened at $339.06 on Wednesday. The firm has a fifty day moving average price of $314.47 and a 200-day moving average price of $309.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $908.53 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.54 and a beta of 0.99. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $5.07 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 22.76 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a $1.50 dividend. 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 payout ratio is presently 28.74%.

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.