JPMorgan Chase & Co. $JPM Shares Sold by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the first quarter, Holdings Channel reports. The institutional investor owned 275,470 shares of the financial services provider’s stock after selling 1,749 shares during the quarter. JPMorgan Chase & Co. comprises about 2.0% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 14th largest holding. Bowen Hanes & Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $81,032,000 as of its most recent SEC filing.

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

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Evercore reaffirmed an “outperform” rating and set a $360.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Weiss Ratings cut JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, July 21st. Truist Financial increased their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Finally, Citigroup raised their target price on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $358.67.

Insider Activity

In related news, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction dated 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 completion of the sale, the general counsel directly owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 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 transaction, the chief operating officer owned 85,082 shares in the company, valued at $26,326,072.44. This represents a 5.47% decrease in their position. 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. In the last three months, insiders sold 18,876 shares of company stock valued at $5,907,051. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.1%

NYSE JPM opened at $352.88 on Monday. The firm’s fifty day moving average price is $323.74 and its 200 day moving average price is $310.97. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $353.37. 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 has a market capitalization of $945.55 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. During the same period in the previous year, the company earned $4.96 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 27.7% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. 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.