JPMorgan Chase & Co. $JPM Shares Sold by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio cut its JPMorgan stake by 36% in the second quarter, selling 572,759 shares and retaining 1,016,977 shares valued at approximately $332.9 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan reported stronger-than-expected quarterly results, with EPS of $6.14 and revenue of $58.02 billion, while revenue increased 27.7% year over year. The company also raised its quarterly dividend to $1.65 per share, or $6.60 annualized.
• JPM shares were down 3.3% and opened at $340.27, despite analysts maintaining a “Moderate Buy” consensus and an average price target of $359.96. Recent concerns include AI-related disruption fears and rising credit-card delinquencies.

Public Employees Retirement System of Ohio lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 36.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,016,977 shares of the financial services provider's stock after selling 572,759 shares during the period. JPMorgan Chase & Co. comprises 1.0% of Public Employees Retirement System of Ohio's investment portfolio, making the stock its 16th largest holding. Public Employees Retirement System of Ohio's holdings in JPMorgan Chase & Co. were worth $332,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of JPM. MASTERINVEST Kapitalanlage GmbH boosted its position in JPMorgan Chase & Co. by 16.2% during the second quarter. MASTERINVEST Kapitalanlage GmbH now owns 79,362 shares of the financial services provider's stock valued at $25,978,000 after purchasing an additional 11,037 shares during the last quarter. Triton Financial Group Inc bought a new stake in JPMorgan Chase & Co. during the second quarter worth approximately $2,030,000. Jacobs Equity LLC grew its stake in JPMorgan Chase & Co. by 1,052.7% in the 2nd quarter. Jacobs Equity LLC now owns 23,273 shares of the financial services provider's stock valued at $7,618,000 after buying an additional 21,254 shares during the last quarter. Strive Financial Group LLC grew its position in shares of JPMorgan Chase & Co. by 5.9% in the second quarter. Strive Financial Group LLC now owns 1,072 shares of the financial services provider's stock valued at $351,000 after purchasing an additional 60 shares during the last quarter. Finally, Fayez Sarofim & Co increased its position in JPMorgan Chase & Co. by 2.7% in the 2nd quarter. Fayez Sarofim & Co now owns 3,214,618 shares of the financial services provider's stock worth $1,052,241,000 after buying an additional 85,496 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: New $20 billion QIA partnership supports long-term fee growth. J.P. Morgan Asset Management will oversee a $15 billion public-equities mandate and collaborate on $5 billion of private-markets investments for Qatar Investment Authority. The arrangement could expand JPMorgan’s asset-management scale and recurring fee revenue. QIA and J.P. Morgan Asset Management Announce $20 Billion Strategic Partnership
• Positive Sentiment: Payments and investment-banking commentary remains constructive. JPMorgan is expanding cross-border payments through a Thunes partnership, while executives said dealmaking is on track for a strong year. These developments could benefit payments revenue and investment-banking fees. Thunes Powers J.P. Morgan Payments’ Xpedite Remit Solution
• Neutral Sentiment: JPMorgan CEO Jamie Dimon expects AI infrastructure spending to reach $1 trillion next year. The forecast highlights potential financing and advisory opportunities, but Dimon also warned that the investment boom could add to inflation, potentially keeping interest rates higher for longer. Jamie Dimon Expects AI Hyperscalers to Spend $1 Trillion Next Year
• Negative Sentiment: Bank stocks sold off as investors questioned whether AI could disrupt traditional financial services. The market’s preference for technology and AI-related shares pressured JPMorgan and other large banks despite JPMorgan’s strong recent earnings and new QIA mandate. Bank Stocks Tumble as New AI Fears Surface
• Negative Sentiment: Credit-card delinquencies and charge-offs rose sequentially in August. Although losses remained below year-ago levels, the increase raised concerns about gradual consumer deterioration and potential future credit costs for card issuers, including JPMorgan. U.S. Card Issuers’ Delinquencies and Net Charge-Offs Rise

JPMorgan Chase & Co. Stock Down 3.3%

JPM stock opened at $340.27 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $366.50. The stock's 50 day moving average is $354.02 and its 200-day moving average is $324.69. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $904.52 billion, a PE ratio of 14.58, a P/E/G ratio of 1.45 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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. The firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company's revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.96 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 1.9%. 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. JPMorgan Chase & Co.'s payout ratio is currently 25.71%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley reaffirmed a "positive" rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 price objective for the company in a report on Wednesday, July 22nd. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 14th. Citigroup lifted their target price 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, Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $359.96.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value 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. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by insiders.

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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