Glenview Trust Co Reduces Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Glenview Trust Co reduced its JPMorgan Chase stake by 1.3% in the first quarter, selling 5,277 shares and leaving it with 394,136 shares valued at about $115.9 million.
• JPMorgan’s latest quarterly results topped expectations, with EPS of $6.14 and revenue of $58.02 billion, both above analyst estimates and up strongly from a year ago.
• Analysts remain broadly upbeat on the stock: JPM has a Moderate Buy consensus with a price target of $358.67, while the shares recently traded near their 52-week high at $352.88.

Glenview Trust Co trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 394,136 shares of the financial services provider's stock after selling 5,277 shares during the quarter. JPMorgan Chase & Co. makes up about 1.8% of Glenview Trust Co's investment portfolio, making the stock its 12th largest holding. Glenview Trust Co's holdings in JPMorgan Chase & Co. were worth $115,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Norges Bank purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $11,396,496,000. Cardano Risk Management B.V. grew its holdings in JPMorgan Chase & Co. by 889.3% during the fourth quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider's stock valued at $2,794,785,000 after purchasing an additional 7,796,814 shares during the period. American Assets Investment Management LLC increased its position in JPMorgan Chase & Co. by 1,172.2% in the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider's stock worth $728,024,000 after buying an additional 2,081,800 shares in the last quarter. Viking Global Investors LP increased its position in JPMorgan Chase & Co. by 86.1% in the second quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider's stock worth $1,171,826,000 after buying an additional 1,870,386 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $474,516,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JPM. HSBC increased their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. DZ Bank reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Citigroup boosted their price objective on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Finally, Morgan Stanley reaffirmed a "positive" rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $358.67.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $352.88 on Friday. The firm has a market cap of $945.55 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.56 and a beta of 0.99. The firm has a fifty day moving average price of $323.74 and a 200 day moving average price of $311.13. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $353.37. 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 announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.55. The company had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.'s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.96 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

Insiders Place Their Bets

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 shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the transaction, the general counsel directly owned 46,428 shares of the company's stock, valued at $13,940,935.56. This trade represents a 10.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,876 shares of company stock valued at $5,907,051 in the last three months. Corporate insiders own 0.41% of the company's stock.

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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