Main Street Financial Solutions LLC Lowers Stock Position in JPMorgan Chase & Co. $JPM

Main Street Financial Solutions LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 45.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,804 shares of the financial services provider’s stock after selling 10,662 shares during the quarter. Main Street Financial Solutions LLC’s holdings in JPMorgan Chase & Co. were worth $4,126,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $32,000. Turning Point Benefit Group Inc. purchased a new position in JPMorgan Chase & Co. during the third quarter valued at $35,000. Merrithew & Thorsten Inc purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $40,000. Finally, WHI TRUST Co LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $45,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. The trade was a 8.52% 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 have sold a total of 28,589 shares of company stock valued at $8,747,496 in the last ninety days. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Argus increased their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. HSBC increased their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Finally, The Goldman Sachs Group set a $361.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $339.08.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s Chase digital bank is reportedly expanding deeper into Europe, which could open a new long-term retail growth channel beyond the U.S. JPMorgan Chase (JPM) Expands Chase Digital Bank Across Europe In Five Year Push
• Positive Sentiment: JPMorgan has been highlighted as a leadership name in financials, with chart-focused coverage suggesting the stock’s uptrend may still have room to continue. Chart of the Day: JPMorgan’s Bull Market May Be Far From Over
• Positive Sentiment: Rising short-term Treasury yields after hawkish Fed messaging support the outlook for banks by improving lending spreads and reinforcing a higher-for-longer rate environment. Traders Fully Price in a Rate Hike by October on Hawkish Fed
• Neutral Sentiment: The broader financial sector was mixed to slightly softer late in the day, which could temper some of the gains in bank shares. Sector Update: Financial Stocks Softer Late Afternoon
• Neutral Sentiment: JPMorgan and other financial firms were named in an Epstein-related records preservation request, but this appears more like a legal headline than a direct fundamental catalyst for JPM stock. Market Chatter: JPMorgan, Google Among Firms Asked to Preserve Records in Epstein Ranch Investigation
• Negative Sentiment: Potentially higher borrowing costs from the Fed’s hawkish tone could also pressure parts of the economy and weigh on rate-sensitive sentiment if investors worry about slower loan growth or credit quality. Bond Rally Fails to Allay Higher-for-Longer Global Rates Threat

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $333.45 on Thursday. The company’s 50-day moving average price is $308.27 and its 200-day moving average price is $307.48. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market cap of $893.47 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.62 and a beta of 1.00. JPMorgan Chase & Co. has a twelve month low of $269.72 and a twelve month high of $337.77.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $48.30 billion. During the same period last year, the firm posted $5.07 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.74%.

JPMorgan Chase & Co. 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.