Caisse de depot et placement du Quebec Sells 238,837 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Caisse de dépôt et placement du Québec reduced its JPMorgan stake by 10%, selling 238,837 shares in the second quarter and retaining 2.15 million shares worth approximately $704.3 million.
• JPMorgan reported strong quarterly results, with EPS of $6.14 and revenue of $58.02 billion, while revenue increased 27.7% year over year. The company also raised its quarterly dividend from $1.50 to $1.65 per share.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $359.96; however, broader bank stocks have faced pressure following higher interest rates.

Caisse de depot et placement du Quebec cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,151,724 shares of the financial services provider's stock after selling 238,837 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.0% of Caisse de depot et placement du Quebec's holdings, making the stock its 19th biggest holding. Caisse de depot et placement du Quebec owned approximately 0.08% of JPMorgan Chase & Co. worth $704,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in JPM. Pointe Capital Management LLC raised its stake in JPMorgan Chase & Co. by 1.2% in the second quarter. Pointe Capital Management LLC now owns 10,062 shares of the financial services provider's stock worth $3,294,000 after buying an additional 123 shares in the last quarter. Western Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Western Wealth Management LLC now owns 64,631 shares of the financial services provider's stock valued at $21,156,000 after acquiring an additional 942 shares in the last quarter. Invst LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Invst LLC now owns 8,563 shares of the financial services provider's stock worth $2,803,000 after acquiring an additional 31 shares during the period. First Bancorp Inc ME raised its position in shares of JPMorgan Chase & Co. by 6.5% in the 2nd quarter. First Bancorp Inc ME now owns 5,514 shares of the financial services provider's stock worth $1,805,000 after acquiring an additional 336 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $1,651,000. Institutional investors own 71.55% of the company's stock.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: The QIA partnership provides a significant new mandate for JPMorgan Asset Management and reinforces the bank’s global institutional-investment relationships. QIA and J.P. Morgan Asset Management Announce $20 Billion Strategic Partnership
• Positive Sentiment: JPMorgan investment-banking executives said dealmaking remains strong and is tracking toward a potentially record year, supporting expectations for higher advisory and underwriting revenue. JPMorgan Sees Dealmaking On Track for Record Year
• Positive Sentiment: CEO Jamie Dimon characterized artificial intelligence as a substantial investment opportunity comparable to the internet, potentially supporting JPMorgan’s long-term productivity and technology strategy, although near-term monetization remains uncertain. Jamie Dimon on AI and investment prospects
• Neutral Sentiment: Analysts continue to view selective acquisitions in payments, data and technology as a possible growth lever, while JPMorgan remains focused on organic expansion. The strategy could improve capabilities but may not materially affect earnings immediately. JPMorgan’s Selective M&A Strategy
• Negative Sentiment: Broader bank stocks faced pressure after the Federal Reserve raised interest rates, as investors reassessed the outlook for the rally and the potential effects of tighter financial conditions on economic growth and loan demand. Fed Rate Hike Fails to Lift Bank Stocks

Insider Buying and Selling

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

JPMorgan Chase & Co. Price Performance

JPM opened at $352.27 on Tuesday. The company's 50-day simple moving average is $354.07 and its two-hundred day simple moving average is $324.40. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $936.40 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.44 and a beta of 0.98. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly 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. 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 analyst estimates of $50.72 billion. During the same period in the previous year, the business posted $4.96 earnings per share. The business's revenue for the quarter was up 27.7% on a year-over-year basis. As a group, analysts predict that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be issued a $1.65 dividend. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is 25.71%.

Analyst Ratings Changes

Several research firms recently commented on JPM. 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. Deutsche Bank Aktiengesellschaft raised 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. Morgan Stanley reissued a "positive" rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Barclays raised their price objective on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $359.96.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.