Stone Summit Wealth LLC Sells 3,259 Shares of JPMorgan Chase & Co. $JPM

Stone Summit Wealth LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,915 shares of the financial services provider’s stock after selling 3,259 shares during the quarter. JPMorgan Chase & Co. makes up 2.2% of Stone Summit Wealth LLC’s holdings, making the stock its 14th biggest holding. Stone Summit Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $7,912,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Horizons Wealth Management acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at $31,000. MBM Wealth Consultants LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth $29,000. Aventus Investment Advisors Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $33,000. Osbon Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $35,000. Finally, Timbuktu Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $50,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan reported third-quarter net income of $15.3 billion, up 6% year over year, while revenue increased 8.1% to approximately $50.2 billion. Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management net income rose 13%, 20%, and 11%, respectively. JPMorgan Chase Reports Third-Quarter Net Income
• Positive Sentiment: Management projected approximately $107 billion of 2027 net interest income, excluding Markets, implying growth from fourth-quarter guidance. Executives also characterized market-related deal activity as delayed rather than canceled, supporting the investment-banking recovery narrative. JPMorgan Sees Deal Delays, Not Cancellations
• Positive Sentiment: The bank declared a $1.65-per-share dividend, and stronger deal activity has led JPMorgan to add more than 1,000 investment bankers globally. Investors may view these actions as support for long-term earnings and capital returns. JPMorgan Taps Rob Sweeney as Dealmaking Rebounds

Analysts Set New Price Targets

Several research analysts have recently issued reports on JPM shares. Royal Bank Of Canada upped their price objective on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, September 25th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley reissued a “positive” rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $361.79.

JPMorgan Chase & Co. Trading Down 0.7%

NYSE:JPM opened at $331.99 on Wednesday. The firm’s fifty day moving average is $349.49 and its 200-day moving average is $329.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50. The firm has a market cap of $882.49 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.37 and a beta of 1.02.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share for the quarter, missing analysts’ consensus estimates of $5.94 by ($0.19). The firm had revenue of $50.17 billion for the quarter, compared to the consensus estimate of $51.23 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%. JPMorgan Chase & Co.’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $5.07 EPS. Equities analysts expect that JPMorgan Chase & Co. will post 24.18 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be given a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.28%.

Insider Buying and Selling

In related news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the sale, the insider owned 71,047 shares of the company’s stock, valued at $25,066,092.07. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.