Absher Wealth Management LLC Sells 3,891 Shares of JPMorgan Chase & Co. $JPM

Absher Wealth Management LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,218 shares of the financial services provider’s stock after selling 3,891 shares during the period. JPMorgan Chase & Co. comprises approximately 3.6% of Absher Wealth Management LLC’s holdings, making the stock its 13th largest holding. Absher Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $30,363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $32,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $29,000. Osbon Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $35,000. Finally, Turning Point Benefit Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the third quarter worth $35,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of JPM opened at $341.60 on Friday. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $351.24. The stock has a market capitalization of $915.33 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.54 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. The stock has a fifty day moving average of $319.11 and a 200-day moving average of $310.31.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the previous year, the company posted $5.07 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 23.24 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced 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 of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.71%.

JPMorgan Chase & Co. News Summary

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

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 JPMorgan Chase & Co. stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,876 shares of company stock valued at $5,907,051 in the last three months. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of a number of recent research reports. Argus increased their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Daiwa Securities Group dropped their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Evercore reissued an “outperform” rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Finally, UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $354.92.

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.