Alyeska Investment Group L.P. Sells 84,499 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Alyeska Investment Group cut its JPMorgan stake by 25.4%, selling 84,499 shares during the second quarter and retaining 248,028 shares valued at approximately $81.2 million.
• Other major institutions—including Bank of America, Bank of New York Mellon, UBS Asset Management and Legal & General—generally increased their JPMorgan holdings; institutional investors collectively own 71.55% of the stock.
• JPMorgan reported quarterly earnings and revenue above analyst estimates and raised its quarterly dividend to $1.65 per share. Analysts maintain a “Moderate Buy” consensus with an average price target of $360.58, although Jefferies recently lowered its target to $365 and kept a “Hold” rating.

Alyeska Investment Group L.P. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 25.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,028 shares of the financial services provider's stock after selling 84,499 shares during the quarter. Alyeska Investment Group L.P.'s holdings in JPMorgan Chase & Co. were worth $81,187,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in JPMorgan Chase & Co. by 6.1% during the second quarter. Bank of America Corp DE now owns 69,666,753 shares of the financial services provider's stock worth $22,804,018,000 after acquiring an additional 4,006,293 shares in the last quarter. Norges Bank bought 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 boosted its holdings in shares of JPMorgan Chase & Co. by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock valued at $7,084,339,000 after buying an additional 540,362 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 2nd 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 valued at $6,164,741,000 after buying an additional 134,634 shares during the last quarter. Finally, Legal & General Group Plc grew its stake 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 valued at $6,128,484,000 after buying an additional 110,586 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: Cross-border payments expansion: JPMorgan Payments is partnering with Thunes to provide faster payouts to bank accounts and mobile wallets across more than 100 corridors. The initiative could expand transaction volumes and strengthen JPM’s global payments franchise. JPMorgan Payments brings faster cross-border payments to more markets
• Positive Sentiment: Asset-management growth: JPMorgan Asset Management announced a $200 million sustainable-forestry investment in Paraguay and recently secured a reported $20 billion multi-market investment partnership with Qatar Investment Authority. These developments could support fee income and reinforce JPM’s global asset-gathering platform. Paraguay sustainable forestry investment
• Positive Sentiment: Potential card expansion: JPMorgan is exploring a private-credit “second-look” model that could allow outside lenders to fund some applicants the bank declines. The approach may increase card reach and fee revenue while transferring some credit risk, though execution and regulatory considerations remain. Private credit and JPMorgan’s card business
• Neutral Sentiment: Analyst view: JPMorgan strategist Grace Peters remains constructive on equities despite higher bond yields, but the comments are broad market guidance rather than a direct change to JPM’s earnings outlook. JPMorgan’s Peters favors stocks
• Negative Sentiment: Jefferies trims valuation target: Jefferies lowered its JPMorgan price target to $365 from $370 while retaining a “Hold” rating. The reduction signals limited perceived upside after the stock’s strong run and is the clearest near-term negative catalyst. Jefferies adjusts JPMorgan price target

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. Robert W. Baird boosted their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, September 2nd. Truist Financial boosted their price objective 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. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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. Sixteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $360.58.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 sale, the insider directly owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.2%

Shares of JPM opened at $338.05 on Friday. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50. The firm has a market cap of $898.60 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.98. The firm's 50-day simple moving average is $353.73 and its 200 day simple moving average is $325.34. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. During the same period last year, the business posted $4.96 earnings per share. The business's revenue for the quarter was up 27.7% compared to the same quarter last year. On average, analysts forecast that JPMorgan Chase & Co. will post 24.3 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. Stockholders of record on Tuesday, October 6th will be paid a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is 25.71%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

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

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