Bank of New York Mellon Corp Has $6.21 Billion Stock Holdings in JPMorgan Chase & Co. $JPM

Bank of New York Mellon Corp trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,102,442 shares of the financial services provider’s stock after selling 2,322,040 shares during the quarter. JPMorgan Chase & Co. makes up about 1.1% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 11th biggest position. Bank of New York Mellon Corp’s holdings in JPMorgan Chase & Co. were worth $6,207,494,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JPM. Timmons Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $27,000. MBM Wealth Consultants LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $32,000. Osbon Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Finally, Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. 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 have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the transaction, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. 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 a total of 18,876 shares of company stock worth $5,907,051 over the last ninety days. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.1%

JPMorgan Chase & Co. stock opened at $341.60 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The company’s 50-day moving average is $319.11 and its 200-day moving average is $310.21. The firm has a market capitalization of $915.33 billion, a PE ratio of 14.64, a P/E/G ratio of 1.52 and a beta of 0.99. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $351.24.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is 25.71%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. HSBC upped their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Argus lifted their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Finally, Robert W. Baird boosted their target price on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $354.92.

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.