Heritage Investors Management Corp Sells 11,293 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Heritage Investors Management cut its JPMorgan stake by 6.1%, selling 11,293 shares in the third quarter and ending the period with 174,674 shares worth about $57.8 million.
• JPMorgan reported quarterly EPS of $5.75, below the $5.94 consensus, and revenue of $50.17 billion versus the $51.23 billion estimate; revenue nevertheless rose 8.1% year over year.
• The bank raised its quarterly dividend to $1.65 per share, equivalent to $6.60 annually and a 2.0% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $368.33.

Heritage Investors Management Corp decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,674 shares of the financial services provider's stock after selling 11,293 shares during the quarter. JPMorgan Chase & Co. comprises about 1.6% of Heritage Investors Management Corp's holdings, making the stock its 13th largest position. Heritage Investors Management Corp's holdings in JPMorgan Chase & Co. were worth $57,787,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in JPMorgan Chase & Co. by 0.8% during the second quarter. State Street Corp now owns 125,209,293 shares of the financial services provider's stock worth $40,984,758,000 after acquiring an additional 932,632 shares in the last quarter. Bank of America Corp DE grew its stake in shares of JPMorgan Chase & Co. by 6.1% in the second quarter. Bank of America Corp DE now owns 69,666,753 shares of the financial services provider's stock worth $22,804,018,000 after purchasing an additional 4,006,293 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in JPMorgan Chase & Co. by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock worth $7,084,339,000 after purchasing an additional 540,362 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,833,413 shares of the financial services provider's stock worth $6,164,741,000 after acquiring an additional 134,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of JPMorgan Chase & Co. by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider's stock worth $5,578,788,000 after acquiring an additional 607,288 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.8%

JPM stock opened at $334.67 on Friday. The company has a market cap of $889.61 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50. The business has a 50-day simple moving average of $341.87 and a 200 day simple moving average of $323.78. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.31.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a net margin of 21.85% and a return on equity of 18.48%. The firm had revenue of $50.17 billion for the quarter, compared to the consensus estimate of $51.23 billion. During the same period last year, the company posted $5.07 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 23.95 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th were given a $1.65 dividend. The ex-dividend date was Tuesday, October 6th. This represents a $6.60 annualized dividend and a yield of 2.0%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. JPMorgan Chase & Co.'s payout ratio is currently 27.68%.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan’s disciplined duration management and stable deposits may help protect its balance sheet if rates remain high. However, funding costs and regulatory exposure are still risks. JPM Flags Higher Rate Risks: Can Its Balance Sheet Stay Resilient?
• Positive Sentiment: ETFs bought about $65.6 million of JPM shares on Nov. 4, a supportive demand signal, though one day of flows may not indicate a lasting trend. 42 ETFs Add to JPMorgan Chase (JPM) on Nov. 4
• Neutral Sentiment: JPMorgan’s M&A chief expects a softer 2027, but suggested private-equity firms may eventually need to sell assets, potentially improving exit activity. JPMorgan’s M&A chief sees softer 2027—but a potential upside surprise in private equity exits
• Negative Sentiment: Senate Finance Committee Democrats plan to scrutinize JPMorgan’s relationship with Epstein and how senior executives handled it. The probe could prolong reputational and regulatory uncertainty; the reports do not establish wrongdoing. Democrats to probe JPMorgan's relationship with Epstein when they take Senate control

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JPM. Royal Bank Of Canada reissued an "outperform" rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 14th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Citigroup dropped their target price on JPMorgan Chase & Co. from $360.00 to $350.00 and set a "neutral" rating for the company in a report on Thursday, October 15th. TD Cowen began coverage on JPMorgan Chase & Co. in a research report on Thursday, October 8th. They set a "hold" rating and a $370.00 price target on the stock. Finally, Jefferies Financial Group reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and a consensus price target of $368.33.

Insiders Place Their Bets

In other news, insider Robin Leopold sold 2,500 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the transaction, the insider directly owned 71,047 shares in the company, valued at approximately $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 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.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management.

The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.

Headquartered in New York City, JPMorgan Chase serves customers across the United States and operates in many international markets.

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