JPMorgan Chase & Co. $JPM Stock Holdings Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,431,356 shares of the financial services provider’s stock after selling 55,209 shares during the period. Pictet Asset Management Holding SA owned 0.05% of JPMorgan Chase & Co. worth $473,600,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Leelyn Smith LLC grew its stake in JPMorgan Chase & Co. by 14.1% during the third quarter. Leelyn Smith LLC now owns 26,120 shares of the financial services provider’s stock valued at $8,641,000 after acquiring an additional 3,226 shares in the last quarter. Allen Investment Management LLC increased its holdings in JPMorgan Chase & Co. by 0.5% in the 3rd quarter. Allen Investment Management LLC now owns 156,436 shares of the financial services provider’s stock valued at $51,754,000 after acquiring an additional 781 shares during the last quarter. Formidable Asset Management LLC lifted its stake in JPMorgan Chase & Co. by 10.9% in the 3rd quarter. Formidable Asset Management LLC now owns 30,565 shares of the financial services provider’s stock worth $10,005,000 after purchasing an additional 3,010 shares in the last quarter. Pegasus Asset Management Inc. lifted its stake in JPMorgan Chase & Co. by 1.2% in the 3rd quarter. Pegasus Asset Management Inc. now owns 34,551 shares of the financial services provider’s stock worth $11,431,000 after purchasing an additional 409 shares in the last quarter. Finally, American Institute for Advanced Investment Management LLP lifted its stake in JPMorgan Chase & Co. by 3.0% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 1,725 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $343.35 on Thursday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average price of $341.06 and a 200 day moving average price of $324.40. The stock has a market cap of $911.80 billion, a PE ratio of 14.40, a P/E/G ratio of 1.35 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a return on equity of 18.48% and a net margin of 21.85%. The business had revenue of $50.17 billion during the quarter, compared to analysts’ expectations of $51.23 billion. During the same quarter in the previous year, the company posted $5.07 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 23.95 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Tuesday, October 6th were issued a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.68%.

Analyst Ratings Changes

JPM has been the subject of a number of research analyst reports. Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Deutsche Bank upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 target price on the stock in a research report on Wednesday, July 22nd. Freedom Broker raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. Finally, Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $368.33.

JPMorgan Chase & Co. News Roundup

These are some of the JPM news items that stood out recently:

• Positive Sentiment: JPMorgan is taking a lead role in Anthropic’s planned IPO, including domestic retail marketing and share allocations. The offering could be a major transaction, giving JPMorgan a chance to earn fees and showcase its investment-banking franchise; CEO Jamie Dimon’s participation also raises the bank’s profile. JPMorgan takes lead role in Anthropic IPO
• Neutral Sentiment: JPMorgan is lead arranger for a $2.85 billion financing package supporting CCC Intelligent Solutions’ buyout. The deal indicates continued lending activity, but the article provides no estimate of fees or likely effect on earnings. CCC Intelligent Solutions financing
• Negative Sentiment: A report says JPMorgan may sell about $2 billion of Qualtrics-related debt at roughly 85 cents on the dollar. If the bank holds the debt and sells at that discount, it could crystallize a loss; the article does not clarify the potential impact on JPMorgan’s results. JPMorgan may sell Qualtrics debt at a discount

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the business’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 completion of the sale, the insider directly owned 71,047 shares of the company’s stock, valued at $25,066,092.07. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Profile

JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.