Bank of New York Mellon Corp Has $6.21 Billion Stake in JPMorgan Chase & Co. $JPM

Key Points

• Bank of New York Mellon trimmed its JPMorgan Chase stake by 9.9% in the first quarter, selling 2.32 million shares but still holding about $6.21 billion worth of JPM shares.
• Institutional ownership of JPMorgan remains very high, with hedge funds and other investors owning 71.55% of the company’s stock. Several large firms, including Morgan Stanley and Norges Bank, also hold significant positions.
• Analysts remain constructive on JPMorgan, with a Moderate Buy consensus and an average price target of $354.92, while the bank also recently announced a quarterly dividend of $1.50 per share.

Bank of New York Mellon Corp lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,102,442 shares of the financial services provider's stock after selling 2,322,040 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.1% of Bank of New York Mellon Corp's holdings, making the stock its 11th biggest position. Bank of New York Mellon Corp owned approximately 0.79% of JPMorgan Chase & Co. worth $6,207,494,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Morgan Stanley boosted its holdings in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock worth $21,390,662,000 after purchasing an additional 939,421 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $11,396,496,000. Legal & General Group Plc lifted its position 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 worth $6,128,484,000 after buying an additional 110,586 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider's stock worth $5,161,532,000 after buying an additional 296,213 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of JPMorgan Chase & Co. by 2.3% in the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock worth $4,622,675,000 after buying an additional 322,735 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent analyst reports. Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an "overweight" rating in a research report on Wednesday. Piper Sandler increased their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Barclays lifted their price target on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $354.92.

JPMorgan Chase & Co. Stock Up 0.1%

JPM opened at $341.60 on Monday. The business has a 50 day moving average of $319.11 and a 200-day moving average of $310.21. The stock has a market capitalization of $915.33 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 1.52 and a beta of 0.99. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $351.24.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.'s dividend payout ratio is currently 25.71%.

Insider Activity at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares of the company's stock, valued at $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 18,876 shares of company stock worth $5,907,051. Company insiders own 0.41% 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: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income -- Up 41% -- and CEO Jamie Dimon Said the Economy Is "Close to as Good as It Gets."
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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