CX Institutional Decreases Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• CX Institutional reduced its JPMorgan Chase position by 23.9% in the second quarter, selling 9,255 shares and retaining 29,458 shares valued at approximately $9.64 million. Institutional investors collectively own 71.55% of JPM stock.
• JPMorgan reported strong quarterly results, with EPS of $6.14 and revenue of $58.02 billion, beating estimates and marking 27.7% year-over-year revenue growth. The bank also announced plans to deploy more than $750 billion toward housing initiatives through 2035.
• JPM shares opened at $352.60, near their 52-week high, while analysts maintain a “Moderate Buy” consensus with an average price target of $359.33. The company pays a quarterly dividend of $1.50 per share, yielding approximately 1.7%.

CX Institutional trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 23.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,458 shares of the financial services provider's stock after selling 9,255 shares during the period. CX Institutional's holdings in JPMorgan Chase & Co. were worth $9,642,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Timmons Wealth Management LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $27,000. MBM Wealth Consultants LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $32,000. Osbon Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $35,000. Finally, Turning Point Benefit Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $35,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan announced plans to deploy more than $750 billion through 2035 through its American Dream Initiative—nearly 40% more housing capital than during the prior decade. The program targets financing for 1 million affordable housing units and assistance for 500,000 homebuyers, including 200,000 first-time buyers. JPMorganChase Doubles Down on Housing
• Positive Sentiment: The bank plans to increase mortgage lending by more than 40% and hire 850 Home Lending Advisors. Investors may view the expansion as a meaningful growth opportunity if housing supply improves and demand for mortgages, refinancing and affordable-housing finance strengthens. JPMorgan Stock Rises as Housing Plan Unfolds
• Positive Sentiment: Financial stocks advanced broadly, with the NYSE Financial Index rising 0.6%, providing a favorable sector backdrop for JPM. The move follows JPMorgan’s recent strong quarterly results, which exceeded analyst expectations for earnings and revenue. Sector Update: Financial Stocks Advance Late Afternoon
• Neutral Sentiment: JPMorgan economists reportedly brought forward their expectation for a possible year-end Federal Reserve rate increase, citing concerns about Fed credibility. Higher rates could support interest income but also pressure loan demand, bond values and credit quality. JPMorgan Rate Forecast
• Negative Sentiment: Commentary on the housing push warns that the large lending pipeline must pass a profitability test. The scale of the commitment could expose JPMorgan to margin pressure, housing-cycle risk and higher credit losses if returns do not justify the additional capital deployment. JPMorgan Makes Massive Push Into American Housing

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $352.60 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $359.30. The firm's 50-day simple moving average is $329.73 and its two-hundred day simple moving average is $312.08. The stock has a market cap of $944.79 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. 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 released its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the business earned $4.96 earnings per share. The business's revenue was up 27.7% on a year-over-year basis. Analysts anticipate that JPMorgan Chase & Co. will post 24.27 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. Jefferies Financial Group set a $350.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Daiwa Securities Group decreased their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Finally, Barclays raised their target price on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $359.33.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company's stock.

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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