Harbor Investment Advisory LLC Lowers Position in JPMorgan Chase & Co. $JPM

Harbor Investment Advisory LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,828 shares of the financial services provider’s stock after selling 13,416 shares during the period. JPMorgan Chase & Co. comprises about 1.3% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 8th largest position. Harbor Investment Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $16,422,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $27,000. MBM Wealth Consultants LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $32,000. Osbon Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $35,000. Finally, Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. in the third quarter valued at about $35,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Key JPMorgan Chase & Co. News

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

JPMorgan Chase & Co. Stock Down 0.2%

Shares of JPM opened at $333.91 on Friday. The business’s fifty day moving average price is $313.35 and its two-hundred day moving average price is $309.10. The firm has a market capitalization 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 company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the previous year, the company posted $5.07 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post 22.76 earnings per share for the current 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 given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.74%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. 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 sold 33,623 shares of company stock valued at $10,427,835. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

JPM has been the subject of several recent research reports. Autonomous Res dropped their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Evercore upped their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. UBS Group dropped their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, June 25th. Finally, Morgan Stanley boosted 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. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $340.88.

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.