Hoey Investments Inc. Cuts Holdings in JPMorgan Chase & Co. $JPM

Hoey Investments Inc. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,697 shares of the financial services provider’s stock after selling 1,884 shares during the period. JPMorgan Chase & Co. makes up 1.3% of Hoey Investments Inc.’s portfolio, making the stock its 12th biggest position. Hoey Investments Inc.’s holdings in JPMorgan Chase & Co. were worth $8,736,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Timmons Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $27,000. MBM Wealth Consultants LLC purchased a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $32,000. Osbon Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $35,000. Finally, Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $35,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on JPM shares. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. HSBC upped their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a report on Tuesday, April 14th. Finally, Truist Financial raised their price objective on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $345.33.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,919 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 33,623 shares of company stock worth $10,427,835. Insiders own 0.41% of the company’s stock.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s AI agents reportedly beat both a 60/40 portfolio and the bank’s rules-based model in backtests, suggesting the company may have a useful edge in applying AI to investing and portfolio construction. JPMorgan AI Agents Beat Traditional Investment Portfolios in Historical Simulations
• Positive Sentiment: Analysts are turning more constructive ahead of earnings, with JPMorgan’s upcoming Q2 results expected to benefit from strong trading and deal activity, which could support earnings momentum. JPMorgan Q2 Earnings Preview — Analysts Raise JPM Stock Price Targets
• Positive Sentiment: JPMorgan is being highlighted as one of the more attractive financial stocks, and a higher price target from Morgan Stanley has added to the bullish tone around the name. JPMorgan (JPM) Ranks Among Most Profitable Stocks
• Neutral Sentiment: Market commentary suggests the broader banking sector could get a boost from upcoming earnings, but results will need to confirm that optimism before it becomes a stronger stock driver. Bank Earnings to Get Wall Street Boost. Can Main Street Keep Up?

JPMorgan Chase & Co. Stock Up 0.2%

Shares of JPMorgan Chase & Co. stock traded up $0.56 during trading hours on Friday, hitting $336.03. 6,296,685 shares of the company’s stock traded hands, compared to its average volume of 10,089,124. The stock has a 50 day simple moving average of $315.85 and a 200-day simple moving average of $309.79. 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 $900.40 billion, a PE ratio of 16.09, a PEG ratio of 1.53 and a beta of 0.99. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate 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 business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter in the previous year, the firm posted $5.07 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 22.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 28.74%.

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.