Sanders Morris Harris LLC Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

Sanders Morris Harris LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 47.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,780 shares of the financial services provider’s stock after selling 8,861 shares during the quarter. JPMorgan Chase & Co. makes up about 1.9% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 13th biggest position. Sanders Morris Harris LLC’s holdings in JPMorgan Chase & Co. were worth $3,201,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its stake in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the period. Acorns Advisers LLC raised its stake in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 100 shares during the period. Ignite Planners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock valued at $3,185,000 after acquiring an additional 78 shares in the last quarter. Jump Financial LLC acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $1,475,000. Finally, Betterment LLC boosted its position in JPMorgan Chase & Co. by 27.5% during the 2nd 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. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $359.62 on Thursday. 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 12 month low of $279.10 and a 12 month high of $363.00. The company has a fifty day moving average price of $331.96 and a two-hundred day moving average price of $312.78. The company has a market cap 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) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business’s revenue was up 27.7% on a year-over-year basis. During the same quarter last year, the business posted $4.96 EPS. Research analysts expect that JPMorgan Chase & Co. will post 24.27 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Key Stories 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

Analyst Ratings Changes

A number of research analysts have commented on the company. Bank of America boosted their price objective on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Robert W. Baird increased their target price on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. UBS Group raised their target price on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a “buy” rating in a report on Monday. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock 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 given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $359.33.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction dated 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 $13,547,031.53. This trade represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.