JPMorgan Chase & Co. $JPM Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 14.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,957 shares of the financial services provider’s stock after selling 2,516 shares during the quarter. Convergence Investment Partners LLC’s holdings in JPMorgan Chase & Co. were worth $4,400,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of 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 valued at $21,390,662,000 after buying an additional 939,421 shares in the last quarter. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $11,396,496,000. Bank of New York Mellon Corp increased its stake in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after purchasing an additional 1,194,583 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of 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 worth $6,128,484,000 after acquiring an additional 110,586 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in JPMorgan Chase & Co. by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider’s stock worth $5,578,788,000 after acquiring an additional 607,288 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The transaction 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 the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,876 shares of company stock worth $5,907,051 over the last three months. Corporate insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

Analyst Ratings Changes

A number of brokerages have issued reports on JPM. The Goldman Sachs Group reissued a “buy” rating and issued a $418.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Jefferies Financial Group set a $350.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Evercore reiterated an “outperform” rating and issued a $360.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $358.67.

JPMorgan Chase & Co. Trading Up 0.9%

Shares of NYSE JPM opened at $352.88 on Friday. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $353.37. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock’s 50 day simple moving average is $323.74 and its 200 day simple moving average is $311.13. The company has a market cap of $945.55 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the previous year, the business earned $4.96 EPS. The firm’s revenue for the quarter was up 27.7% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 23.59 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.