BDF Gestion Cuts Holdings in JPMorgan Chase & Co. $JPM

Key Points

• BDF Gestion reduced its JPMorgan Chase stake by 10.1% in the second quarter, selling 6,057 shares and retaining 53,871 shares worth approximately $17.6 million. Institutional investors collectively own 71.55% of the company.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $359.33; targets in recent reports ranged from $352 to $418.
• JPMorgan reported a strong quarter, earning $6.14 per share versus the $5.59 consensus estimate and generating $58.02 billion in revenue. The bank also maintains a quarterly dividend of $1.50, equivalent to a 1.7% annual yield.

BDF Gestion trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,871 shares of the financial services provider's stock after selling 6,057 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.2% of BDF Gestion's holdings, making the stock its 9th largest position. BDF Gestion's holdings in JPMorgan Chase & Co. were worth $17,634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Morgan Stanley lifted its position in JPMorgan Chase & Co. by 1.4% during the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock valued at $21,390,662,000 after purchasing an additional 939,421 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of JPMorgan Chase & Co. by 15.8% during the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock worth $19,314,681,000 after acquiring an additional 8,941,351 shares in the last quarter. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $11,396,496,000. Bank of New York Mellon Corp lifted its stake in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock valued at $7,547,837,000 after purchasing an additional 1,194,583 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in 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 purchasing an additional 110,586 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a "hold" rating in a research report on Wednesday, July 15th. The Goldman Sachs Group reissued a "buy" rating and issued a $418.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Morgan Stanley reaffirmed a "positive" rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Finally, Zacks Research raised shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $359.33.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: Large housing initiative could expand lending opportunities: JPMorgan plans to deploy more than $750 billion through 2035 through its American Dream Initiative. The program targets financing for 1 million affordable housing units, helping 500,000 people purchase homes, hiring 850 home-lending advisers and increasing mortgage lending by more than 40%. The initiative could support long-term loan growth, although its eventual profitability remains a key question. JPMorganChase Doubles Down on Housing
• Positive Sentiment: Broad financial-sector momentum provides a tailwind: The NYSE Financial Index advanced during Tuesday trading, indicating continued investor interest in banks and other financial companies as markets rotate toward established, value-oriented businesses. Sector Update: Financial Stocks Rise Late Afternoon
• Positive Sentiment: Potential infrastructure-finance transaction: JPMorgan is reportedly nearing a deal to acquire Idex, a French cooling-network provider owned by Antin Infrastructure Partners. The transaction could expand the bank’s investment-banking or infrastructure-finance footprint, though terms and strategic benefits have not been disclosed. JPMorgan Said to Near Deal For Antin’s French Cooling Network Provider
• Neutral Sentiment: Mixed interest-rate signals: JPMorgan economists reportedly moved up their forecast for a potential Federal Reserve rate increase before year-end, citing inflation and concerns about Fed credibility. Higher rates can support banks’ interest income, but they may also weaken loan demand and raise credit-risk concerns. JPMorgan says Warsh failure to buttress Fed credibility may force a rate hike
• Negative Sentiment: Valuation and macro concerns could limit upside: Analysts note that JPM’s strong recent share performance may already reflect much of the housing and earnings optimism. CEO Jamie Dimon has also warned that U.S. stocks and long-duration Treasuries appear expensive, a cautionary message for market valuations and investor sentiment. Jamie Dimon Just Said He Wouldn't Buy the S&P 500 or Long-Dated Treasuries

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $357.75 on Wednesday. The business's 50-day moving average is $330.75 and its two-hundred day moving average is $312.43. The company has a market capitalization of $958.58 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.45 and a beta of 0.99. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $363.00. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The firm had revenue of $58.02 billion for 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 company's revenue was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.96 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 24.27 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is currently 25.71%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the transaction, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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. Company 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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