Hilltop Holdings Inc. Has $10.54 Million Position in JPMorgan Chase & Co. $JPM

Hilltop Holdings Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 47.9% during the first quarter, HoldingsChannel reports. The firm owned 35,822 shares of the financial services provider’s stock after selling 32,870 shares during the period. JPMorgan Chase & Co. comprises 0.9% of Hilltop Holdings Inc.’s investment portfolio, making the stock its 16th biggest position. Hilltop Holdings Inc.’s holdings in JPMorgan Chase & Co. were worth $10,537,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Rockbridge Investment Management LCC boosted its stake in JPMorgan Chase & Co. by 14.0% during the 1st quarter. Rockbridge Investment Management LCC now owns 1,894 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 233 shares during the period. Pennington Partners & CO. LLC increased its position in JPMorgan Chase & Co. by 16.3% in the 1st quarter. Pennington Partners & CO. LLC now owns 3,439 shares of the financial services provider’s stock worth $1,012,000 after buying an additional 482 shares during the period. GC Wealth Management RIA LLC increased its position in JPMorgan Chase & Co. by 3.3% in the 1st quarter. GC Wealth Management RIA LLC now owns 51,740 shares of the financial services provider’s stock worth $15,220,000 after buying an additional 1,633 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of JPMorgan Chase & Co. by 43.8% during the first quarter. Public Employees Retirement System of Ohio now owns 1,589,736 shares of the financial services provider’s stock worth $467,637,000 after buying an additional 484,284 shares during the last quarter. Finally, Modern Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 3.6% during the first quarter. Modern Wealth Management LLC now owns 163,931 shares of the financial services provider’s stock worth $48,422,000 after buying an additional 5,746 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In other 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 transaction, the general counsel directly owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their position. The transaction was disclosed in a legal 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 JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. This trade represents 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. In the last 90 days, insiders sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JPM shares. Robert W. Baird increased their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 target price for the company in a research note on Wednesday, July 22nd. Daiwa Securities Group reduced their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $418.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $358.67.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $356.15 on Tuesday. The firm has a market capitalization of $954.30 billion, a PE ratio of 15.26, a PEG ratio of 1.47 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. has a 1-year low of $279.10 and a 1-year high of $359.05. The business’s 50 day moving average is $324.84 and its 200-day moving average is $311.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. The business 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 was up 27.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.96 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 23.97 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.71%.

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.