JPMorgan Chase & Co. $JPM Shares Sold by Bell Asset Management Ltd

Key Points

• Bell Asset Management cut its JPMorgan stake by 61.9% in the third quarter, selling 18,711 shares and retaining 11,525 shares valued at approximately $3.8 million.
• Despite Bell’s reduction, several major institutions increased their positions, and hedge funds and other institutional investors collectively own 71.55% of JPMorgan’s stock. Analysts maintain a “Moderate Buy” consensus with an average price target of $362.88.
• JPMorgan reported quarterly earnings and revenue above expectations and raised its quarterly dividend from $1.50 to $1.65 per share, equivalent to a $6.60 annualized payout and a 2.0% yield.

Bell Asset Management Ltd lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 61.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,525 shares of the financial services provider's stock after selling 18,711 shares during the period. JPMorgan Chase & Co. makes up about 1.4% of Bell Asset Management Ltd's portfolio, making the stock its 13th biggest position. Bell Asset Management Ltd's holdings in JPMorgan Chase & Co. were worth $3,813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. State Street Corp increased its holdings in shares of JPMorgan Chase & Co. by 0.8% in the second quarter. State Street Corp now owns 125,209,293 shares of the financial services provider's stock valued at $40,984,758,000 after purchasing an additional 932,632 shares during the period. Bank of America Corp DE raised its position in JPMorgan Chase & Co. by 6.1% during the 2nd 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 buying an additional 4,006,293 shares during the last quarter. Bank of New York Mellon Corp raised its position in JPMorgan Chase & Co. by 2.6% during the 2nd 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 buying an additional 540,362 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 valued at $5,578,788,000 after acquiring an additional 607,288 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $6,164,741,000 after acquiring an additional 134,634 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other 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 completion of the sale, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on JPM shares. Barclays reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 14th. Finally, Morgan Stanley reissued a "positive" rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $362.88.

JPMorgan Chase & Co. Stock Up 0.6%

Shares of JPM opened at $331.67 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The stock's 50 day moving average is $350.75 and its two-hundred day moving average is $328.64. The firm has a market cap of $881.63 billion, a P/E ratio of 14.21, a PEG ratio of 1.36 and a beta of 1.02.

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 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 company had revenue of $58.02 billion during the quarter, compared to analysts' expectations of $50.72 billion. During the same period in the prior year, the business posted $4.96 earnings per share. The firm's revenue for the quarter was up 27.7% on a year-over-year basis. Analysts predict that JPMorgan Chase & Co. will post 24.16 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be paid a dividend of $1.65 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $6.60 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.28%.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s 10% dividend increase highlights strong earnings power and capital-generation capacity. The increase appears comfortably supported by the bank’s payout ratio, which may reinforce income-focused investor interest. JPMorgan dividend article
• Positive Sentiment: TD Cowen initiated coverage with a Hold rating and a $370 price target, implying meaningful potential upside from the reference price. While not an outright bullish recommendation, the target provides a constructive valuation signal.
• Positive Sentiment: Chase is expanding its business-banking platform with payroll services, creating an additional source of client engagement, fee revenue and cross-selling opportunities. Chase payroll article
• Neutral Sentiment: Analysts expect solid third-quarter revenue and continued banking momentum, but investors will also be watching expenses, credit provisions, loan growth and net interest income. Strong results could support the shares, while any deterioration could pressure the premium valuation. JPMorgan Q3 earnings preview
• Neutral Sentiment: JPMorgan appointed Eleni Skoura to lead its Chase business in Germany. The leadership change may support European growth, but it is unlikely to materially affect near-term earnings. JPMorgan Germany leadership article
• Negative Sentiment: JPMorgan strategists warn that rapidly rising long-term Treasury yields, approaching 6% for the 30-year bond, can weigh on markets and increase pressure on bank valuations, credit conditions and trading activity.
• Negative Sentiment: Investors remain concerned about elevated operating costs, potential credit deterioration and JPM’s relatively premium valuation ahead of earnings. The bank’s warnings that housing affordability is near financial-crisis lows also point to a weak or “frozen” housing market, a risk for consumer and mortgage-related activity.

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, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.

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