SmartHarvest Portfolios LLC Sells 2,695 Shares of JPMorgan Chase & Co. $JPM

SmartHarvest Portfolios LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 21.6% in the 1st quarter, HoldingsChannel reports. The fund owned 9,790 shares of the financial services provider’s stock after selling 2,695 shares during the period. JPMorgan Chase & Co. makes up about 1.2% of SmartHarvest Portfolios LLC’s investment portfolio, making the stock its 13th biggest holding. SmartHarvest Portfolios LLC’s holdings in JPMorgan Chase & Co. were worth $2,880,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $11,396,496,000. Cardano Risk Management B.V. increased its holdings in JPMorgan Chase & Co. by 889.3% in the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock valued at $2,794,785,000 after buying an additional 7,796,814 shares during the period. Danske Bank A S bought a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $696,885,000. American Assets Investment Management LLC raised its stake in shares of JPMorgan Chase & Co. by 1,172.2% in the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock valued at $728,024,000 after buying an additional 2,081,800 shares in the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of JPMorgan Chase & Co. by 1,033.3% during the 3rd quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock worth $679,790,000 after acquiring an additional 1,964,958 shares during the period. Institutional investors own 71.55% of the company’s stock.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s recently announced $50 billion buyback plan and expected dividend boost reinforce its capital strength and shareholder-friendly stance, which is helping sentiment toward the stock.
• Positive Sentiment: Morgan Stanley raised its price target on JPMorgan to $362 from $336 while maintaining an equal-weight rating, signaling further upside from current levels.
• Positive Sentiment: The Federal Reserve stress test results showed the largest U.S. banks, including JPMorgan, can withstand a severe downturn, which supports confidence in the bank’s balance sheet and capital return plans.
• Neutral Sentiment: JPMorgan’s leadership reshuffle and succession planning for Jamie Dimon are drawing attention, but the move appears orderly so far and is not yet a clear positive or negative catalyst.
• Neutral Sentiment: Some commentary highlighted JPMorgan’s continued strength as a long-term banking franchise, but these pieces were mostly opinion-driven and add limited new fundamental information.
• Negative Sentiment: Several analysts noted rising costs, interest-rate pressures, and asset-quality risks as reasons to remain cautious, which could limit how aggressively investors bid up the shares.

JPMorgan Chase & Co. Trading Up 0.2%

JPM opened at $329.85 on Tuesday. The firm has a 50 day simple moving average of $311.85 and a 200 day simple moving average of $308.58. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $343.45. The company has a market cap of $883.83 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period last year, the firm earned $5.07 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.43 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid 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 payout ratio is 28.74%.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. Evercore upped their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Thursday, June 25th. Argus increased their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Truist Financial boosted their price target on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a “hold” rating in a research note on Friday. Finally, Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $340.88.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing 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, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,623 shares of company stock valued at $10,427,835 over the last three months. Company insiders own 0.41% of the company’s stock.

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.