Geneos Wealth Management Inc. Has $21.49 Million Stock Position in JPMorgan Chase & Co. $JPM

Geneos Wealth Management Inc. increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,064 shares of the financial services provider’s stock after buying an additional 1,730 shares during the quarter. Geneos Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $21,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Timmons Wealth Management LLC acquired a new stake in 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 1st quarter valued at about $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $32,000. Osbon Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. 71.55% of the stock is owned by institutional investors.

Trending Headlines about JPMorgan Chase & Co.

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

Wall Street Analyst Weigh In

JPM has been the subject of several recent analyst reports. HSBC raised their target price on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Autonomous Res lowered their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Daiwa Securities Group cut their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $354.92.

Insider Activity

In related news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. 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 directly owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction 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 sale, the general counsel owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% 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. Over the last quarter, insiders have sold 18,876 shares of company stock valued at $5,907,051. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Up 0.1%

Shares of JPM opened at $341.60 on Monday. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $351.24. The firm has a market cap of $915.33 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99. The firm’s 50-day simple moving average is $319.11 and its 200 day simple moving average is $310.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. Dividend Announcement

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