Keebeck Wealth Management Raises Stock Position in JPMorgan Chase & Co. $JPM

Keebeck Wealth Management raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 38.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,436 shares of the financial services provider’s stock after purchasing an additional 2,355 shares during the quarter. Keebeck Wealth Management’s holdings in JPMorgan Chase & Co. were worth $2,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in shares of JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after buying an additional 939,421 shares during the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp lifted its holdings in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after acquiring an additional 1,194,583 shares during the period. Legal & General Group Plc lifted its holdings in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after acquiring an additional 110,586 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in JPMorgan Chase & Co. by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider’s stock worth $5,578,788,000 after purchasing an additional 607,288 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings lowered shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, July 21st. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Daiwa Securities Group cut their price objective 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. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Finally, Evercore reissued an “outperform” rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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

Insider Activity

In other news, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their position. 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 18,876 shares of company stock worth $5,907,051 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of NYSE:JPM opened at $356.15 on Tuesday. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $359.05. The firm has a market capitalization of $954.30 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The business’s 50 day moving average price is $324.84 and its 200-day moving average price is $311.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. The firm had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter last year, the company earned $4.96 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 23.97 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

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.