Carnegie Investment Counsel Has $119.93 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Carnegie Investment Counsel cut its JPMorgan Chase holdings by 10.9% in the second quarter, selling 45,763 shares and retaining 375,035 shares valued at approximately $119.93 million.
• Institutional investors own 71.55% of JPMorgan’s outstanding stock, with major holders including Morgan Stanley, Bank of America, Norges Bank, Bank of New York Mellon and Legal & General.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and a $359.96 average price target. JPMorgan also exceeded quarterly earnings and revenue expectations, reporting $6.14 in EPS and $58.02 billion in revenue.

Carnegie Investment Counsel reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 10.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 375,035 shares of the financial services provider's stock after selling 45,763 shares during the quarter. JPMorgan Chase & Co. comprises 2.4% of Carnegie Investment Counsel's portfolio, making the stock its 8th biggest holding. Carnegie Investment Counsel's holdings in JPMorgan Chase & Co. were worth $119,927,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Morgan Stanley increased its position in JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock worth $21,390,662,000 after buying an additional 939,421 shares during the period. Bank of America Corp DE boosted its position in shares of JPMorgan Chase & Co. by 15.8% in the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock valued at $19,314,681,000 after acquiring an additional 8,941,351 shares during the period. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp grew its stake in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock worth $7,547,837,000 after acquiring an additional 1,194,583 shares during the last quarter. Finally, Legal & General Group Plc increased its position in JPMorgan Chase & Co. by 0.6% during 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 acquiring an additional 110,586 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research reports. Morgan Stanley reissued a "positive" rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Zacks Research raised shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Truist Financial lifted their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Finally, Dbs Bank upgraded JPMorgan Chase & Co. to a "hold" rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $359.96.

JPMorgan Chase & Co. Trading Down 0.0%

Shares of JPM stock opened at $357.54 on Monday. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $366.50. The stock has a market cap of $950.41 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.47 and a beta of 0.99. 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 firm has a fifty day moving average of $347.44 and a 200-day moving average of $318.80.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm's revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.96 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 24.28 earnings per share for the current fiscal year.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan is expanding its retail footprint with a planned branch in the Lake Norman area and a new Frisco, Texas, lease. The moves support long-term deposit gathering, customer acquisition and local commercial-banking growth, although the near-term earnings impact is likely modest. Chase Bank plans to open new branch in Lake Norman JPMorgan Chase plans expansion, signs Frisco lease
• Positive Sentiment: A new collaboration with Experian will embed account and payee verification into payment workflows. By helping businesses detect incorrect accounts and potential fraud before funds are sent, the service could strengthen JPMorgan’s payments offering and create additional enterprise relationships. Experian and JPMorgan Push Account Checks Into Payment Workflows
• Positive Sentiment: JPMorgan’s potential stablecoin is viewed as a way to extend its blockchain-payment capabilities, accelerate settlement and deepen institutional digital-finance relationships. The initiative could improve the bank’s competitive position in payments, though commercialization and regulatory execution remain uncertain. Can JPMorgan's Stablecoin Push Strengthen Its Digital Payments Edge?
• Neutral Sentiment: Recent comparisons indicate JPMorgan has helped lead gains among diversified banks, with analysts remaining moderately optimistic. That supports sentiment but offers limited new information about earnings or valuation. How Is JPMorgan Chase's Stock Performance Compared to Other Diversified Bank Stocks
• Negative Sentiment: Regulatory scrutiny is a key risk. The SEC reportedly subpoenaed JPMorgan and other major banks over margin lending to a hedge fund that suffered a steep drawdown. Separately, a proposed GSIB capital-surcharge revision and a technical funding change could reduce expected capital relief, potentially pressuring returns and buyback capacity. SEC Probe Puts Wall Street Leverage Risk Back in Focus JPMorgan Prices One Fed Formula at 61% of Quarterly Profit

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total transaction of $903,525.00. Following the sale, the insider directly owned 73,547 shares of the company's stock, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. This represents a 11.78% 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. 0.41% of the stock is 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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