SevenBridge Financial Group LLC Sells 1,619 Shares of JPMorgan Chase & Co. $JPM

SevenBridge Financial Group LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 40,115 shares of the financial services provider’s stock after selling 1,619 shares during the quarter. JPMorgan Chase & Co. comprises 2.1% of SevenBridge Financial Group LLC’s portfolio, making the stock its 7th biggest position. SevenBridge Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $12,557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of JPM. Fidelis Capital Partners LLC grew its holdings in JPMorgan Chase & Co. by 7.9% during the fourth quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider’s stock worth $22,580,000 after acquiring an additional 5,101 shares during the period. Howard Capital Management Inc. boosted its position in JPMorgan Chase & Co. by 18.2% in the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock worth $8,308,000 after purchasing an additional 3,976 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in JPMorgan Chase & Co. by 51.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock worth $2,862,000 after purchasing an additional 3,027 shares in the last quarter. Brighton Jones LLC boosted its holdings 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 in the last quarter. Finally, KTF Investments LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $6,449,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the transaction, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This represents a 5.47% 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. In the last three months, insiders have sold 33,623 shares of company stock worth $10,427,835. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM opened at $333.91 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market cap of $894.72 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.53 and a beta of 0.99. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $343.45. The firm’s fifty day simple moving average is $313.35 and its two-hundred day simple moving average is $309.10.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed 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. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is presently 28.74%.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Wall Street commentary remains supportive, with analysts reworking revenue assumptions and nudging fair-value estimates higher for JPMorgan ahead of earnings. JPMorgan Chase (JPM) Stock Gets Fair Value Bump As Analysts Rework Revenue Outlook
• Positive Sentiment: Investors are also looking ahead to JPMorgan’s July 14 earnings report, with revisions trends for bank stocks still positive and expectations for the June-quarter cycle trending up. Q2 Earnings Season Nears Kickoff: Bank Earnings in Focus
• Positive Sentiment: JPMorgan’s brand and consumer franchise also got a boost from coverage of the Chase credit-card lounge wars, highlighting its push to win affluent customers and deepen loyalty. American Express and Chase move luxury lounge wars beyond the airport
• Neutral Sentiment: The bank disclosed a larger stake in Umicore SA, showing ongoing investing activity but not a clear direct catalyst for JPM shares. How JPMorgan’s Higher Umicore SA (UMICY) Stake Keeps Focus on Its Circular Battery Materials Platform
• Neutral Sentiment: JPMorgan also remained in the headlines for its broader market views, including warnings on crypto-market risks and support for clearer US crypto rules; these are more thematic than stock-moving in the near term. JPMorgan Says Saylor’s Strategy Adds New Risk to Bitcoin Market
• Negative Sentiment: Governance-related headlines may be weighing on sentiment, including the end of Marianne Lake’s CEO succession bid and her reported $50 million in unvested stock after Dimon chose other successors. JPMorgan CEO contender walks away with $50M in unvested stock after losing Jamie Dimon succession race
• Negative Sentiment: There was also another adverse legal headline, as a judge rejected JPMorgan’s challenge to a disputed $74 million legal-fee bill tied to the Charlie Javice fraud case. JPMorgan Loses Javice Legal Fee Fight
• Negative Sentiment: Separately, JPMorgan must keep paying Charlie Javice’s legal fees, adding to the expense and reputational overhang from the long-running fraud case. JPMorgan has to keep paying Charlie Javice’s legal fees, judge rules

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on JPM shares. Autonomous Res cut their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Argus increased their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Morgan Stanley lifted their price target on JPMorgan Chase & Co. from $336.00 to $362.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. UBS Group lowered their price target on JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Finally, Daiwa Securities Group dropped their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $340.88.

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.