Harbor Investment Advisory LLC Has $18.90 Million Stake in JPMorgan Chase & Co. $JPM

Harbor Investment Advisory LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,733 shares of the financial services provider’s stock after purchasing an additional 1,905 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.3% of Harbor Investment Advisory LLC’s portfolio, making the stock its 8th largest position. Harbor Investment Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $18,898,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares in the last quarter. Acorns Advisers LLC lifted its holdings in shares of JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 100 shares during the last quarter. Ignite Planners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after acquiring an additional 78 shares during the last quarter. Jump Financial LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth $1,475,000. Finally, Betterment LLC grew its position in JPMorgan Chase & Co. by 27.5% in the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock worth $571,000 after acquiring an additional 425 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Large housing initiative could expand lending opportunities: JPMorgan plans to deploy more than $750 billion through 2035 through its American Dream Initiative. The program targets financing for 1 million affordable housing units, helping 500,000 people purchase homes, hiring 850 home-lending advisers and increasing mortgage lending by more than 40%. The initiative could support long-term loan growth, although its eventual profitability remains a key question. JPMorganChase Doubles Down on Housing
• Positive Sentiment: Broad financial-sector momentum provides a tailwind: The NYSE Financial Index advanced during Tuesday trading, indicating continued investor interest in banks and other financial companies as markets rotate toward established, value-oriented businesses. Sector Update: Financial Stocks Rise Late Afternoon
• Positive Sentiment: Potential infrastructure-finance transaction: JPMorgan is reportedly nearing a deal to acquire Idex, a French cooling-network provider owned by Antin Infrastructure Partners. The transaction could expand the bank’s investment-banking or infrastructure-finance footprint, though terms and strategic benefits have not been disclosed. JPMorgan Said to Near Deal For Antin’s French Cooling Network Provider
• Neutral Sentiment: Mixed interest-rate signals: JPMorgan economists reportedly moved up their forecast for a potential Federal Reserve rate increase before year-end, citing inflation and concerns about Fed credibility. Higher rates can support banks’ interest income, but they may also weaken loan demand and raise credit-risk concerns. JPMorgan says Warsh failure to buttress Fed credibility may force a rate hike
• Negative Sentiment: Valuation and macro concerns could limit upside: Analysts note that JPM’s strong recent share performance may already reflect much of the housing and earnings optimism. CEO Jamie Dimon has also warned that U.S. stocks and long-duration Treasuries appear expensive, a cautionary message for market valuations and investor sentiment. Jamie Dimon Just Said He Wouldn’t Buy the S&P 500 or Long-Dated Treasuries

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 in the company, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Up 1.4%

Shares of NYSE:JPM opened at $357.75 on Wednesday. The stock’s 50-day moving average price is $330.75 and its 200-day moving average price is $312.43. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $363.00. The stock has a market capitalization of $958.58 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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. The company had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.JPMorgan Chase & Co.’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.96 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 24.27 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is 25.71%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial increased their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a report on Wednesday, July 22nd. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Evercore reissued an “outperform” rating and set a $360.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $359.33.

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.