JPMorgan Chase & Co. $JPM Shares Sold by Pzena Investment Management LLC

Key Points

• Pzena Investment Management reduced its JPMorgan Chase stake by 0.9% in the second quarter, selling 3,168 shares and retaining 334,094 shares valued at approximately $109.4 million. Institutional investors collectively own 71.55% of the stock.
• JPMorgan reported quarterly earnings of $6.14 per share and revenue of $58.02 billion, exceeding analyst expectations, while revenue increased 27.7% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $359.96. Company insiders sold 10,467 shares worth about $3.6 million over the past three months, including transactions conducted under pre-arranged Rule 10b5-1 plans.

Pzena Investment Management LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 334,094 shares of the financial services provider's stock after selling 3,168 shares during the period. Pzena Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $109,359,000 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 JPM. Brighton Jones LLC grew its position in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Acorns Advisers LLC increased its holdings in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after acquiring an additional 100 shares during the period. Ignite Planners LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock worth $3,185,000 after acquiring an additional 78 shares during the period. Jump Financial LLC bought a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $1,475,000. Finally, Betterment LLC lifted its position in JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock valued at $571,000 after purchasing an additional 425 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the business's 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 sale, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider directly owned 71,047 shares of the company's stock, valued at $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,467 shares of company stock worth $3,593,651 in the last three months. 0.41% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $356.77 on Monday. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $366.50. The stock has a fifty day moving average of $352.26 and a 200-day moving average of $322.29. The company has a market capitalization of $948.37 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. During the same period in the previous year, the firm posted $4.96 EPS. The company's quarterly revenue was up 27.7% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays upped their target price on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Truist Financial boosted their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Bank of America increased their price objective on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley reiterated a "positive" rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $359.96.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan’s profitability and capital-return capacity remain major supports. Recent coverage highlighted approximately $16.9 billion in quarterly profit, with dividends consuming only a portion of earnings, leaving room for reinvestment, buybacks and future distributions. JPMorgan earnings and dividend coverage
• Positive Sentiment: The bank is expanding its European corporate-banking operations, including a reported 25% staffing increase and a push into Greece. The strategy could create additional lending, payments, investment-banking and cross-selling revenue over time. JPMorgan Greece expansion
• Positive Sentiment: Wall Street sentiment remains constructive, with JPMorgan described as a well-capitalized bank trading at an attractive valuation relative to its earnings, scale and exposure to investment banking, asset management and higher interest rates. The average analyst rating is “Moderate Buy.” JPMorgan analyst sentiment
• Neutral Sentiment: Insider Robin Leopold sold 2,500 shares for approximately $882,000 under a pre-arranged Rule 10b5-1 trading plan. The sale reduced her direct holdings by 3.4%, but its planned nature makes it a limited signal about management’s outlook. JPMorgan insider transaction
• Negative Sentiment: JPMorgan strategists warned that the equity risk premium has fallen to its lowest level since 2002. The unusually narrow compensation for owning stocks instead of bonds could limit broad market upside and increase sensitivity to disappointing economic or earnings news. JPMorgan equity risk premium warning
• Negative Sentiment: The bank’s decision to contest pressure from the Trump administration may protect its independence but could bring additional litigation, regulatory and political costs. JPMorgan political and legal risks

JPMorgan Chase & Co. 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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