Carnegie Investment Counsel Has $121.03 Million Stock Position in JPMorgan Chase & Co. $JPM

Carnegie Investment Counsel increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 420,798 shares of the financial services provider’s stock after purchasing an additional 1,651 shares during the quarter. JPMorgan Chase & Co. accounts for 2.4% of Carnegie Investment Counsel’s portfolio, making the stock its 4th largest position. Carnegie Investment Counsel’s holdings in JPMorgan Chase & Co. were worth $121,028,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,919 shares of the business’s 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 owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,876 shares of company stock valued at $5,907,051 in the last quarter. 0.41% of the stock is owned by insiders.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan reported blowout Q2 results, including record net income of $21.2 billion, with CEO Jamie Dimon saying the economy remains “close to as good as it gets.” The bank also posted strong trading and investment banking performance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts turned more bullish after earnings, with Bank of America, Keefe, Bruyette & Woods, and Truist all lifting price targets, reflecting confidence in JPMorgan’s profitability, capital flexibility, and guidance for stronger net interest income. Analyst price-target updates
• Positive Sentiment: JPMorgan raised its full-year net interest income outlook to $105.5 billion, signaling that core lending revenue remains resilient even after the Federal Reserve’s policy changes. JPMorgan Chase Just Posted 86% Growth in Equities Trading Revenue and Raised Its Full-Year Net Interest Income Guidance to $105.5 Billion
• Neutral Sentiment: JPMorgan continued to show market leadership and a path toward a possible $1 trillion valuation, helped by its scale in lending, trading, and dealmaking, but that milestone may also be encouraging some short-term profit taking after the stock’s sharp run. Dimon-led JPMorgan poised to become world’s first $1 trillion bank
• Neutral Sentiment: The bank also announced a $24 million investment in Philadelphia shipbuilding and defense manufacturing, which supports its long-term industrial finance strategy but is unlikely to move the stock materially by itself. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Some commentary focused on JPMorgan’s higher expense outlook following earnings, suggesting costs could rise faster than investors expected and tempering enthusiasm after the strong report. Its Dividend Looks Secure, But Don’t Chase JPM Stock After Q2 Earnings. Here’s Why.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group set a $350.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday. Royal Bank Of Canada increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday. Argus raised 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. HSBC lifted their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. Finally, Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Fifteen equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $354.92.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $343.02 on Friday. The company’s 50-day moving average price is $318.31 and its 200-day moving average price is $310.09. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The company has a market cap of $919.14 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $351.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.JPMorgan Chase & Co.’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $5.07 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 22.95 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm 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 dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. JPMorgan Chase & Co.’s payout ratio is presently 25.71%.

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.