Geode Capital Management LLC Has $19.67 Billion Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Geode Capital Management slightly trimmed its JPMorgan position, but still holds a massive stake: 61.3 million shares worth about $19.67 billion, making JPM a 12th-largest holding in its portfolio.
• JPMorgan insiders sold shares recently, including COO Jennifer Piepszak and CFO Jeremy Barnum, while insiders overall sold 28,589 shares over the past 90 days.
• JPMorgan beat earnings expectations for the quarter, reporting EPS of $5.94 versus the $5.50 estimate and revenue of $50.54 billion; the bank also declared a quarterly dividend of $1.50 per share.

Geode Capital Management LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,268,688 shares of the financial services provider's stock after selling 13,017 shares during the quarter. JPMorgan Chase & Co. makes up 1.2% of Geode Capital Management LLC's portfolio, making the stock its 12th largest position. Geode Capital Management LLC owned 2.25% of JPMorgan Chase & Co. worth $19,671,557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Brighton Jones LLC increased its stake in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares in the last quarter. Acorns Advisers LLC increased its stake in shares of JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after buying an additional 100 shares in the last quarter. Ignite Planners LLC increased its position in JPMorgan Chase & Co. by 0.7% in the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock worth $3,185,000 after purchasing an additional 78 shares during the period. Jump Financial LLC acquired a new stake in JPMorgan Chase & Co. in the second quarter worth about $1,475,000. Finally, Betterment LLC increased its position in JPMorgan Chase & Co. by 27.5% in the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock worth $571,000 after purchasing an additional 425 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 9,136 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. This trade represents a 9.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 5,611 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares in the company, valued at $10,870,263. This trade represents a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,589 shares of company stock worth $8,747,496 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $310.99 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 1 year low of $260.31 and a 1 year high of $337.25. The stock has a market cap of $833.29 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. The stock's 50-day moving average price is $303.54 and its two-hundred day moving average price is $306.44.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter last year, the business earned $5.07 earnings per share. The company's revenue was up 10.0% compared to the same quarter last year. On average, equities analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.74%.

Wall Street Analyst Weigh In

A number of analysts recently commented on JPM shares. Jefferies Financial Group reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Autonomous Res lowered their price objective on JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Dbs Bank upgraded JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. Finally, UBS Group lowered their price objective on JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Hold" and an average target price of $339.08.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Jamie Dimon is personally promoting SpaceX’s expected blockbuster IPO to 2,500 ultra-wealthy JPMorgan clients, highlighting JPMorgan’s ability to win marquee mandates and generate advisory and placement fees. Reuters article on Dimon discussing SpaceX IPO roadshow
• Positive Sentiment: Reports say JPMorgan is also looking at acquisition opportunities, with CEO Jamie Dimon previously suggesting the bank could deploy $10 billion to $20 billion for a deal, which could support growth if executed well. Yahoo Finance article on acquisition opportunities
• Neutral Sentiment: JPMorgan and other major banks are planning a tokenized deposit system to compete with stablecoins and crypto firms, a longer-term strategic move that could help defend the payments business but is not an immediate earnings driver. WSJ article on tokenized deposit system
• Neutral Sentiment: JPMorgan disclosed that some affiliated entities exited a substantial holder position in PLS Group and increased a stake in a2 Milk, but these are portfolio actions by affiliates and are unlikely to move JPMorgan’s shares meaningfully. TipRanks article on PLS Group filing
• Negative Sentiment: Some commentary from JPMorgan has warned that the crypto-focused CLARITY Act faces a narrow path to passage, underscoring ongoing policy uncertainty in an area the bank is watching closely. Benzinga article on CLARITY Act timing

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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