Equitable Holdings Inc. Cuts Stock Position in JPMorgan Chase & Co. $JPM

Equitable Holdings Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 263,530 shares of the financial services provider's stock after selling 25,590 shares during the quarter. Equitable Holdings Inc.'s holdings in JPMorgan Chase & Co. were worth $86,261,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $11,396,496,000. Bank of America Corp DE boosted its stake in JPMorgan Chase & Co. by 15.8% in the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock worth $19,314,681,000 after purchasing an additional 8,941,351 shares during the period. Ascentis Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 32,672.0% during the 2nd quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider's stock valued at $1,521,126,000 after buying an additional 4,632,891 shares in the last quarter. Jupiter Topco LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at approximately $1,274,097,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of JPMorgan Chase & Co. by 31.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,944,004 shares of the financial services provider's stock valued at $2,042,648,000 after buying an additional 1,662,250 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Robin Leopold sold 2,500 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the sale, the insider directly owned 71,047 shares of the company's stock, valued at $25,066,092.07. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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. Stock Performance

NYSE JPM opened at $340.27 on Wednesday. The business's 50 day moving average price is $354.02 and its 200-day moving average price is $324.69. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The company has a market cap of $904.52 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.45 and a beta of 0.98. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping 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 company 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 firm earned $4.96 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 27.7% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Analyst Ratings Changes

JPM has been the subject of a number of research reports. Morgan Stanley restated a "positive" rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Jefferies Financial Group set a $350.00 target price on JPMorgan Chase & Co. in a report on Tuesday, July 14th. Finally, Barclays increased their price target 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. Sixteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $359.96.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: New $20 billion QIA partnership supports long-term fee growth. J.P. Morgan Asset Management will oversee a $15 billion public-equities mandate and collaborate on $5 billion of private-markets investments for Qatar Investment Authority. The arrangement could expand JPMorgan’s asset-management scale and recurring fee revenue. QIA and J.P. Morgan Asset Management Announce $20 Billion Strategic Partnership
• Positive Sentiment: Payments and investment-banking commentary remains constructive. JPMorgan is expanding cross-border payments through a Thunes partnership, while executives said dealmaking is on track for a strong year. These developments could benefit payments revenue and investment-banking fees. Thunes Powers J.P. Morgan Payments’ Xpedite Remit Solution
• Neutral Sentiment: JPMorgan CEO Jamie Dimon expects AI infrastructure spending to reach $1 trillion next year. The forecast highlights potential financing and advisory opportunities, but Dimon also warned that the investment boom could add to inflation, potentially keeping interest rates higher for longer. Jamie Dimon Expects AI Hyperscalers to Spend $1 Trillion Next Year
• Negative Sentiment: Bank stocks sold off as investors questioned whether AI could disrupt traditional financial services. The market’s preference for technology and AI-related shares pressured JPMorgan and other large banks despite JPMorgan’s strong recent earnings and new QIA mandate. Bank Stocks Tumble as New AI Fears Surface
• Negative Sentiment: Credit-card delinquencies and charge-offs rose sequentially in August. Although losses remained below year-ago levels, the increase raised concerns about gradual consumer deterioration and potential future credit costs for card issuers, including JPMorgan. U.S. Card Issuers’ Delinquencies and Net Charge-Offs Rise

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.