Cullinan Associates Inc. Sells 11,616 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Cullinan Associates Inc. cut its JPMorgan Chase stake by 14.3% in the fourth quarter, selling 11,616 shares and leaving it with 69,616 shares valued at about $22.4 million.
• Despite the sale, JPMorgan remains widely held by institutions, which own 71.55% of the company. Other large investors, including Legal & General, Fisher Asset Management, and Invesco, also added to their positions.
• Analyst sentiment remains constructive: JPM has an average rating of “Moderate Buy” with a consensus target price of $338.12, while the company recently beat quarterly earnings estimates and continues paying a $1.50 quarterly dividend.

Cullinan Associates Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,616 shares of the financial services provider's stock after selling 11,616 shares during the period. JPMorgan Chase & Co. makes up about 1.5% of Cullinan Associates Inc.'s investment portfolio, making the stock its 15th largest holding. Cullinan Associates Inc.'s holdings in JPMorgan Chase & Co. were worth $22,432,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of JPMorgan Chase & Co. by 3.3% during the third quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider's stock worth $5,964,459,000 after acquiring an additional 607,025 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 2.3% during the third quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider's stock worth $4,959,330,000 after acquiring an additional 347,033 shares in the last quarter. Invesco Ltd. increased its position in shares of JPMorgan Chase & Co. by 2.3% during the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock worth $4,622,675,000 after acquiring an additional 322,735 shares in the last quarter. Boston Partners boosted its holdings in JPMorgan Chase & Co. by 2.3% during the third quarter. Boston Partners now owns 7,492,763 shares of the financial services provider's stock worth $2,360,045,000 after purchasing an additional 168,184 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in JPMorgan Chase & Co. by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,809,417 shares of the financial services provider's stock worth $2,147,894,000 after purchasing an additional 31,421 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent research reports. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Sunday, January 18th. Evercore increased their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Freedom Capital upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a report on Wednesday, January 14th. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a report on Wednesday, April 15th. Finally, Wells Fargo & Company reduced their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating for the company in a report on Tuesday, February 17th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average target price of $338.12.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $299.75 on Tuesday. The stock has a market cap of $803.18 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.47 and a beta of 1.03. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The company has a fifty day moving average price of $299.53 and a two-hundred day moving average price of $307.27. JPMorgan Chase & Co. has a one year low of $256.00 and a one year high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.07 earnings per share. As a group, equities analysts predict that JPMorgan Chase & Co. will post 22.42 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were paid a $1.50 dividend. The ex-dividend date was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.74%.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan is pushing deeper into fintech-style banking to attract Gen Z customers, rolling out low-fee Chase accounts and an upgraded app aimed at winning 30 million new-to-banking users. Article Title
• Positive Sentiment: JPMorgan also continued to highlight opportunities in global markets, including a more constructive view on Asian tech and KOSPI exposure tied to the AI and memory-cycle boom, reinforcing the firm’s strong research franchise. Article Title
• Neutral Sentiment: JPMorgan’s analysts issued several high-profile calls on other companies, including a new hold on Oklo and a lower price target on McDonald’s, keeping the bank visible in the market but not directly changing JPM’s earnings outlook. Article Title
• Neutral Sentiment: Separately, commentary from JPMorgan strategists warned that inflation, geopolitical fragmentation, and oil-price shocks remain key market risks, which may support a cautious tone toward financial stocks. Article Title
• Negative Sentiment: A JPMorgan-led lender group reduced a credit facility for troubled FS KKR Capital and raised borrowing costs, a reminder that credit stress in private markets could be a headwind for the broader lending environment. Article Title
• Negative Sentiment: Investor speculation about whether Jamie Dimon could eventually step down also hovered over the stock, creating some governance and succession uncertainty for JPMorgan Chase & Co. Article Title

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,404 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total value of $1,042,985.60. Following the completion of the sale, the general counsel owned 61,949 shares in the company, valued at $18,981,173.60. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares of the company's stock, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 79,849 shares of company stock valued at $24,522,956. 0.41% of the stock is owned by company insiders.

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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