JPMorgan Chase & Co. $JPM Stake Decreased by Gradient Investments LLC

Gradient Investments LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 10.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 185,011 shares of the financial services provider’s stock after selling 20,937 shares during the quarter. JPMorgan Chase & Co. accounts for 0.9% of Gradient Investments LLC’s holdings, making the stock its 22nd largest holding. Gradient Investments LLC’s holdings in JPMorgan Chase & Co. were worth $61,207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in JPMorgan Chase & Co. by 0.8% during the 2nd quarter. State Street Corp now owns 125,209,293 shares of the financial services provider’s stock worth $40,984,758,000 after acquiring an additional 932,632 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of JPMorgan Chase & Co. by 6.1% in the second quarter. Bank of America Corp DE now owns 69,666,753 shares of the financial services provider’s stock valued at $22,804,018,000 after purchasing an additional 4,006,293 shares in the last quarter. Bank of New York Mellon Corp boosted its position in JPMorgan Chase & Co. by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider’s stock worth $7,084,339,000 after acquiring an additional 540,362 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 purchasing an additional 607,288 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in JPMorgan Chase & Co. by 0.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,833,413 shares of the financial services provider’s stock worth $6,164,741,000 after buying an additional 134,634 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the sale, the insider directly owned 71,047 shares of the company’s stock, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.1%

NYSE:JPM traded up $0.31 during mid-day trading on Thursday, hitting $329.89. The company had a trading volume of 3,686,735 shares, compared to its average volume of 9,205,087. The business’s fifty day moving average is $351.12 and its two-hundred day moving average is $328.32. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $876.92 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.36 and a beta of 1.02. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50.

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 for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. During the same quarter in the prior year, the company earned $4.96 earnings per share. The business’s quarterly revenue was up 27.7% compared to the same quarter last year. As a group, research analysts expect that JPMorgan Chase & Co. will post 24.16 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be issued a dividend of $1.65 per share. The ex-dividend date is Tuesday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. This represents a $6.60 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.28%.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Analyst target implies upside: TD Cowen initiated coverage with a “hold” rating and a $370 price target, indicating potential appreciation from recent levels despite the cautious recommendation. TD Cowen initiates JPMorgan coverage
• Positive Sentiment: Dividend growth supports the investment case: JPMorgan recently increased its dividend by 10%, a move viewed as evidence of strong earnings and capital-generation capacity. JPMorgan dividend increase
• Positive Sentiment: Business expansion continues: Chase is adding payroll capabilities to its business-banking platform, potentially deepening relationships with commercial clients and creating additional fee opportunities. Chase adds payroll services
• Neutral Sentiment: Q3 earnings are the next major catalyst: Analysts are evaluating net interest income, loan growth, credit provisions, investment-banking activity and expense trends ahead of the company’s expected October 13 report. Expectations call for year-over-year earnings growth, but elevated investor expectations could increase volatility. JPMorgan Q3 earnings preview
• Negative Sentiment: Rising long-term Treasury yields are a headwind: JPMorgan strategists say the 30-year yield approaching 6% reflects concerns about government debt and could hurt small- and mid-cap borrowers, market valuations and broader risk appetite. JPMorgan flags rising Treasury yields
• Negative Sentiment: Dimon’s warnings reinforce macro concerns: The CEO has cautioned that sticky inflation, higher rates, a bond-market selloff and competition for capital could squeeze corporate borrowers. Analysts also note that sharply rising yields can pressure banks through bond-market losses, funding costs and weaker loan demand. Banks under pressure from spiking yields
• Negative Sentiment: Housing weakness poses an indirect risk: JPMorgan says U.S. housing affordability is near financial-crisis lows and that the market is effectively frozen, signaling potential pressure on mortgage activity, consumer finances and credit quality. JPMorgan comments on housing affordability

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Truist Financial raised their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft raised 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. UBS Group lowered their price objective on JPMorgan Chase & Co. from $400.00 to $395.00 and set a “buy” rating on the stock in a report on Monday. Finally, Royal Bank Of Canada raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Fifteen equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $362.88.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.