Jennison Associates LLC Lowers Position in JPMorgan Chase & Co. $JPM

Key Points

• Jennison Associates reduced its JPMorgan position by 12.3% in the second quarter, selling 170,155 shares and retaining 1.21 million shares valued at approximately $397.2 million. Institutional investors collectively own 71.55% of the company.
• Analysts remain broadly optimistic, with a consensus rating of “Moderate Buy” and an average price target of $359.96; several firms recently raised their targets, including Goldman Sachs at $418.
• JPMorgan reported a strong quarter, with earnings of $6.14 per share and revenue of $58.02 billion, exceeding estimates and representing 27.7% year-over-year revenue growth. Shares opened at $362.11, near the company’s 52-week high.

Jennison Associates LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 12.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,213,493 shares of the financial services provider's stock after selling 170,155 shares during the quarter. Jennison Associates LLC's holdings in JPMorgan Chase & Co. were worth $397,213,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $32,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $29,000. Aventus Investment Advisors Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $33,000. Finally, Osbon Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $35,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JPM. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. The Goldman Sachs Group restated a "buy" rating and issued a $418.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Morgan Stanley reissued a "positive" rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a research report 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 assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $359.96.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $362.11 on Friday. The company has a fifty day simple moving average of $349.30 and a 200-day simple moving average of $320.17. The firm has a market capitalization of $962.56 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.47 and a beta of 0.98. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $50.72 billion. During the same period in the previous year, the business posted $4.96 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 27.7% on a year-over-year basis. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 24.28 EPS for the current fiscal year.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Higher interest-rate expectations and a 10-year Treasury yield near 4.8% are supporting the earnings case for JPMorgan. Recent commentary cited a 10% increase in net interest income to $25.6 billion, making banks more attractive as investors rotate away from some growth stocks. JPMorgan Rises as 10-Year Treasury Yield Hits 4.8% Expectations of Rising Rates and Worries About AI Have Investors Piling Into Big Bank Stocks
• Positive Sentiment: JPMorgan’s market outperformance reflects favorable investor positioning and continued confidence in the bank’s fundamentals following its latest earnings beat, which included stronger-than-expected revenue and earnings growth. JPMorgan Chase & Co. Outperforms Broader Market
• Positive Sentiment: JPMorgan’s Kinexys blockchain platform is gaining traction in payments and settlement, potentially accelerating fund transfers, strengthening client relationships and creating longer-term payments revenue opportunities. Will Kinexys Fuel JPMorgan’s Next Leg of Payments Growth?
• Neutral Sentiment: JPMorgan’s strategic rebrand of Campbell Global as J.P. Morgan Natural Capital highlights expansion in forestland and nature-based assets, although the immediate financial effect on JPM shares is likely limited. J.P. Morgan Asset Management Announces Rebrand
• Negative Sentiment: JPMorgan is seeking a stay of a $20 million fee order connected to the Javice litigation. The legal dispute could create additional costs and reputational risk, although the request itself does not establish a final liability. JPMorgan Seeks Stay of $20M Javice Fee Order
• Neutral Sentiment: The bank has curtailed financing to Jane Street as the trading firm expands in U.S. Treasury market-making. The move may limit counterparty exposure but also underscores growing competition from non-bank trading firms in fixed income. JPMorgan Curbed Lending to Jane Street

Insider Buying and Selling

In other news, insider Robin Leopold sold 2,500 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total transaction of $903,525.00. Following the transaction, the insider owned 73,547 shares of the company's stock, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% 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. 0.41% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

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.

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.

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