Athena Investment Management Sells 5,294 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Athena Investment Management cut its JPMorgan stake by 21.8% in the second quarter, selling 5,294 shares and retaining 18,980 shares worth approximately $6.2 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan reported quarterly earnings of $6.14 per share, exceeding estimates of $5.59, while revenue rose 27.7% year over year to $58.02 billion. The bank also increased its quarterly dividend to $1.65 per share, implying a 1.9% yield.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $360.58, although Jefferies reiterated a Hold rating and lowered its target to $365.

Athena Investment Management reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,980 shares of the financial services provider's stock after selling 5,294 shares during the period. JPMorgan Chase & Co. accounts for about 3.7% of Athena Investment Management's portfolio, making the stock its 4th largest holding. Athena Investment Management's holdings in JPMorgan Chase & Co. were worth $6,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC lifted its stake in shares of JPMorgan Chase & Co. by 7.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider's stock worth $22,580,000 after buying an additional 5,101 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in JPMorgan Chase & Co. by 7.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 29,956 shares of the financial services provider's stock valued at $9,805,000 after acquiring an additional 1,973 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in JPMorgan Chase & Co. by 4.6% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 343,644 shares of the financial services provider's stock valued at $112,485,000 after acquiring an additional 15,017 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services raised its holdings in JPMorgan Chase & Co. by 18.7% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 41,218 shares of the financial services provider's stock valued at $12,125,000 after acquiring an additional 6,492 shares during the last quarter. Finally, FAS Wealth Partners Inc. lifted its stake in JPMorgan Chase & Co. by 4.3% in the 1st quarter. FAS Wealth Partners Inc. now owns 43,527 shares of the financial services provider's stock worth $12,804,000 after purchasing an additional 1,794 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.0%

JPM stock opened at $342.99 on Monday. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $366.50. The firm has a market cap of $911.74 billion, a PE ratio of 14.70, a PEG ratio of 1.41 and a beta of 0.98. The firm's 50 day moving average price is $353.76 and its 200-day moving average price is $325.71. 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 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 analyst estimates 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 revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.96 earnings per share. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders 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 represents a $6.60 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 25.71%.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Royal Bank Of Canada boosted their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Citigroup increased their price target on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a report on Monday, July 20th. The Goldman Sachs Group reiterated a "buy" rating and set a $418.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Jefferies Financial Group restated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Friday. Finally, Weiss Ratings raised JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, September 2nd. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average target price of $360.58.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan is exploring a private-credit “second-look” program for credit-card applicants. The initiative could expand approvals and card revenue while using additional underwriting to control losses and limit exposure to riskier borrowers. Can Private Credit Unlock More Growth for JPMorgan’s Card Business?
• Positive Sentiment: A new partnership with Thunes is intended to broaden JPMorgan’s cross-border payments reach across more than 100 corridors, adding local payment methods and faster payouts. This supports growth in the bank’s payments franchise. JPM’s Thunes Partnership
• Positive Sentiment: J.P. Morgan Asset Management and Paraguay announced a $200 million sustainable-forestry investment. The transaction could modestly support JPM’s asset-management and sustainable-investing businesses. Paraguay Sustainable Forestry Investment
• Neutral Sentiment: JPMorgan strategists see as much as $115 billion potentially flowing into Indian equities as investors diversify away from crowded artificial-intelligence trades. The view highlights the bank’s global research and investment-banking franchise but is not a direct earnings forecast for JPM.
• Neutral Sentiment: JPMorgan’s market strategists remain constructive on equities despite higher bond yields, while its analysts continue to promote opportunities in AI infrastructure, REITs and energy. These calls may enhance JPMorgan’s advisory profile but have limited immediate impact on its own shares.
• Negative Sentiment: Jefferies lowered its JPMorgan price target to $365 from $370 and reiterated a Hold rating. The revision signals limited near-term upside after the stock’s strong performance and may weigh on sentiment. Jefferies Adjusts JPMorgan Price Target

Insider Activity

In related news, insider Robin Leopold sold 2,500 shares of the firm'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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Company Profile

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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