JPMorgan Chase & Co. $JPM Shares Sold by Palisade Capital Management LP

Key Points

• Palisade Capital Management reduced its JPMorgan stake by 8.2% in the second quarter, selling 9,743 shares and retaining 108,558 shares valued at approximately $35.5 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan reported quarterly earnings of $6.14 per share, beating the $5.59 analyst consensus, while revenue rose 27.7% year over year to $58.02 billion.
• The bank raised its quarterly dividend from $1.50 to $1.65 per share. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $359.96.

Palisade Capital Management LP reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 8.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 108,558 shares of the financial services provider's stock after selling 9,743 shares during the quarter. JPMorgan Chase & Co. comprises about 1.5% of Palisade Capital Management LP's investment portfolio, making the stock its 9th biggest position. Palisade Capital Management LP's holdings in JPMorgan Chase & Co. were worth $35,534,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in JPMorgan Chase & Co. by 15.8% during the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock worth $19,314,681,000 after purchasing an additional 8,941,351 shares in the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $11,396,496,000. Bank of New York Mellon Corp raised its stake in shares of JPMorgan Chase & Co. by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock valued at $7,084,339,000 after acquiring an additional 540,362 shares during the period. Legal & General Group Plc lifted its holdings in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock valued at $6,128,484,000 after acquiring an additional 110,586 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 worth $5,578,788,000 after purchasing an additional 607,288 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $348.92 on Monday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a fifty day moving average price of $353.73 and a 200 day moving average price of $324.03. The company has a market cap of $927.49 billion, a P/E ratio of 14.95, a PEG ratio of 1.44 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share 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 analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business's revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.96 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Tuesday, October 6th will be issued a dividend of $1.65 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 25.71%.

Analyst Upgrades and Downgrades

JPM has been the topic of several analyst reports. Citigroup raised their target price on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a report on Monday, July 20th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Barclays upped their target price on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Morgan Stanley reaffirmed a "positive" rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, September 2nd. Sixteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $359.96.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the transaction, the insider owned 71,047 shares of the company's stock, valued at $25,066,092.07. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by insiders.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: Strong third-quarter revenue outlook: JPMorgan expects investment-banking fees and Markets revenue to increase in the mid-to-high teens year over year. A robust deal pipeline and trading activity suggest continued strength in fee income and support expectations for another strong quarter. JPMorgan Sees Investment Banking and Trading Powering Q3 Growth
• Positive Sentiment: Higher rates may support lending revenue: Following the Federal Reserve’s rate increase, JPMorgan and other major banks raised prime lending rates to 7%. This could improve asset yields and net interest income, although deposit costs and borrower demand remain important offsets. U.S. Banks Raise Prime Interest Rates Following Fed Hike
• Positive Sentiment: Shareholder-return and franchise catalysts: Analysts highlighted JPMorgan’s planned quarterly dividend increase to $1.65, while new mandates—including financing Drax’s solar acquisition and Canada airport concessions—could add to advisory and underwriting revenue. JPMorgan Dividend and Long-Term Outlook
• Neutral Sentiment: Continued strategic visibility: JPMorgan will report third-quarter results on October 13. The bank is also hosting its India conference and pursuing a large, multiyear U.S. housing initiative, developments that reinforce its global reach but are unlikely to materially affect near-term earnings. JPMorgan Third-Quarter Earnings Call Announcement
• Negative Sentiment: Inflation and oil risks remain overhangs: CEO Jamie Dimon said inflation has not clearly been defeated. Separately, JPMorgan’s commodities team abandoned a firm oil-price forecast as the prolonged Iran conflict pushed Brent above $100 per barrel. Persistent inflation could delay rate cuts, raise credit risks and increase market volatility. Jamie Dimon on Inflation

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, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

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

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