Gradient Investments LLC Decreases Holdings in JPMorgan Chase & Co. $JPM

Gradient Investments LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,011 shares of the financial services provider’s stock after selling 20,937 shares during the period. JPMorgan Chase & Co. comprises approximately 0.9% of Gradient Investments LLC’s investment portfolio, making the stock its 22nd largest position. Gradient Investments LLC’s holdings in JPMorgan Chase & Co. were worth $61,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings 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 during the last quarter. Bank of America Corp DE boosted its holdings in 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 acquiring an additional 4,006,293 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 buying an additional 540,362 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider’s stock valued at $5,578,788,000 after purchasing an additional 607,288 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research analyst reports. Morgan Stanley reissued a “positive” rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. Citigroup upped their price target on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Finally, Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Fifteen equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $362.88.

Insiders Place Their Bets

In other news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the transaction, the insider owned 71,047 shares of the company’s stock, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. 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 owned by corporate insiders.

JPMorgan Chase & Co. News Summary

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

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $0.31 on Thursday, reaching $329.89. 3,686,735 shares of the company traded hands, compared to its average volume of 9,205,087. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $876.92 billion, a PE ratio of 14.15, a PEG ratio of 1.36 and a beta of 1.02. The company has a 50 day moving average of $351.12 and a 200 day moving average of $328.32. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. The company had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.96 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 24.16 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be given 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 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.28%.

JPMorgan Chase & Co. Company 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.