Convergence Financial LLC Sells 10,939 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Convergence Financial LLC cut its JPMorgan Chase stake by 50.9% in the third quarter, selling 10,939 shares and retaining 10,564 shares valued at approximately $3.5 million. Institutional investors collectively own 71.55% of the company.
• Analyst sentiment remains positive, with JPMorgan carrying a consensus “Moderate Buy” rating and an average price target of $368.33, despite mixed ratings from individual firms.
• JPMorgan’s latest quarterly results missed expectations, reporting $5.75 in earnings per share and $50.17 billion in revenue, while the company raised its quarterly dividend to $1.65 per share.

Convergence Financial LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 50.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,564 shares of the financial services provider's stock after selling 10,939 shares during the period. Convergence Financial LLC's holdings in JPMorgan Chase & Co. were worth $3,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sigma Investment Counselors Inc. lifted its position in JPMorgan Chase & Co. by 10.4% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 50,594 shares of the financial services provider's stock worth $16,738,000 after acquiring an additional 4,784 shares during the last quarter. Victory Financial Group LLC boosted its holdings in JPMorgan Chase & Co. by 84.0% during the third quarter. Victory Financial Group LLC now owns 9,339 shares of the financial services provider's stock valued at $3,090,000 after acquiring an additional 4,264 shares during the period. Great Lakes Retirement Inc. grew its position in shares of JPMorgan Chase & Co. by 2.2% in the third quarter. Great Lakes Retirement Inc. now owns 32,915 shares of the financial services provider's stock valued at $10,889,000 after purchasing an additional 717 shares during the last quarter. Generali Asset Management SPA SGR grew its position in shares of JPMorgan Chase & Co. by 9.2% in the third quarter. Generali Asset Management SPA SGR now owns 178,540 shares of the financial services provider's stock valued at $59,066,000 after purchasing an additional 15,107 shares during the last quarter. Finally, IMG Wealth Management Inc. grew its position in shares of JPMorgan Chase & Co. by 4.8% in the third quarter. IMG Wealth Management Inc. now owns 1,590 shares of the financial services provider's stock valued at $526,000 after purchasing an additional 73 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JPM. Bank of America lifted their price objective on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Weiss Ratings downgraded JPMorgan Chase & Co. from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, October 23rd. TD Cowen assumed coverage on JPMorgan Chase & Co. in a report on Thursday, October 8th. They issued a "hold" rating and a $370.00 target price on the stock. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Finally, Evercore reaffirmed an "outperform" rating and issued a $360.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $368.33.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The stock was 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 in the company, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: UBS raised its price target to $400 and reiterated a “buy” rating, implying approximately 17.4% upside from the referenced share price. The upgrade reflects continued confidence in JPMorgan’s earnings power and franchise strength.
• Positive Sentiment: JPMorgan is among major banks with substantial stock-repurchase programs. Buybacks can support earnings per share and shareholder returns, although the bank is balancing repurchases against investments in its businesses and client support. 3 Bank Stocks With Buyback Plans of at Least $30 Billion Worth a Look
• Positive Sentiment: ETFs recorded a net $83.1 million inflow into JPMorgan shares on October 29, with 40 funds buying and 15 selling. The flow indicates supportive institutional demand, though it is a short-term trading signal. ETFs Bought $83.1 Million of JPMorgan on Oct. 29
• Positive Sentiment: JPMorgan continues expanding its digital-asset and technology capabilities. Its involvement in tokenized funds and stablecoin-related infrastructure could create longer-term growth opportunities, while the appointment of a data-infrastructure chief supports AI and digital-banking initiatives. Blackrock, JPMorgan and Visa Bolster Grayscale’s Crypto Growth Case
• Neutral Sentiment: JPMorgan strategists expect renewed geopolitical risk after the U.S. midterm elections but view any market selloff as a potential buying opportunity. This could support JPM sentiment if investors favor large, diversified banks during volatility. Post-midterm geopolitical risks could create another buying opportunity
• Negative Sentiment: JPMorgan’s latest quarterly earnings missed consensus estimates, with earnings per share of $5.75 versus $5.94 expected and revenue of $50.17 billion versus $51.23 billion expected. Management’s decision to reduce buybacks while increasing investment could pressure near-term per-share returns, despite a higher 2026 net-interest-income outlook. Learn Why The Bull Case For JPMorgan Chase Stock Could Change Following Earnings Miss

JPMorgan Chase & Co. Stock Up 1.1%

Shares of JPM opened at $340.75 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $343.12 and a 200-day simple moving average of $323.13. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50. The firm has a market capitalization of $905.79 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.34 and a beta of 1.02.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share for the quarter, missing analysts' consensus estimates of $5.94 by ($0.19). JPMorgan Chase & Co. had a return on equity of 18.48% and a net margin of 21.85%. The firm had revenue of $50.17 billion for the quarter, compared to analyst estimates of $51.23 billion. During the same period last year, the business earned $5.07 earnings per share. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th were given a $1.65 dividend. The ex-dividend date was Tuesday, October 6th. This represents a $6.60 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. JPMorgan Chase & Co.'s dividend payout ratio is 27.68%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, investment banking, payments, asset management and wealth management services to individuals, businesses, governments and institutional clients.

Its major business segments include Consumer & Community Banking, which offers deposit accounts, credit cards, mortgages, auto loans and other financial products; Commercial & Investment Banking, which provides corporate lending, advisory, underwriting, trading, treasury and payments services; and Asset & Wealth Management, which serves individual and institutional investors with investment management, brokerage and related advisory services.

JPMorgan Chase serves customers in the United States and operates internationally through offices and businesses in major financial centers around the world.

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