JPMorgan Chase & Co. $JPM Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D trimmed its JPMorgan Chase stake by 3.1% in the fourth quarter, though it still held 941,727 shares valued at about $303.4 million.
• JPMorgan reported better-than-expected quarterly results, with EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion versus $48.30 billion forecast. Revenue rose 10% year over year, and the company continues to project full-year EPS of 22.42.
• The bank also paid a quarterly dividend of $1.50 per share, equal to a $6.00 annualized payout and a 2.0% yield. Meanwhile, analysts remain split, with an overall rating of Moderate Buy and an average price target of $338.12.

State of New Jersey Common Pension Fund D cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 941,727 shares of the financial services provider's stock after selling 29,819 shares during the period. JPMorgan Chase & Co. makes up about 1.1% of State of New Jersey Common Pension Fund D's holdings, making the stock its 12th largest holding. State of New Jersey Common Pension Fund D's holdings in JPMorgan Chase & Co. were worth $303,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Mountain Hill Investment Partners Corp. purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $32,000. Turning Point Benefit Group Inc. purchased a new position in JPMorgan Chase & Co. during the third quarter worth about $35,000. Miller Global Investments LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $52,000. Collier Financial acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at about $60,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $62,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $301.93 on Monday. The stock has a market capitalization of $809.04 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.47 and a beta of 1.03. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $299.69 and a 200 day moving average of $307.26. JPMorgan Chase & Co. has a 12 month low of $252.34 and a 12 month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.07 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.42 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were paid a $1.50 dividend. The ex-dividend date was Monday, April 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is 28.74%.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: Erste Group raised its FY2027 earnings-per-share estimate for JPMorgan, implying expectations for continued profit strength ahead. JPMorgan Chase & Co. trading and earnings background
• Positive Sentiment: JPMorgan’s role in the first near real-time cross-border tokenized U.S. Treasury redemption with Ripple, Mastercard, and Ondo highlights innovation in blockchain-based settlement and could support long-term growth in payments and markets infrastructure. Ondo, JPMorgan, Mastercard & Ripple complete cross-border Treasury redemption
• Neutral Sentiment: JPMorgan disclosed a new preferred stock issuance and also reported a new 3.06% stake in Umicore, both of which are mostly capital-management and portfolio moves rather than direct operating catalysts. JPMorgan Issues New Series PP Preferred Stock
• Neutral Sentiment: JPMorgan remains in the news for research and commentary, including warnings from CEO Jamie Dimon about a possible bond-market crisis and the bank’s view that U.S. grid failures disproportionately hurt lower-income households. These are important macro views, but they do not immediately change JPM’s fundamentals. Jamie Dimon warns of bond crisis
• Negative Sentiment: JPMorgan is facing lawsuit risk after being sued alongside Citigroup over frozen payments tied to a sanctioned Chinese firm, which raises regulatory and legal uncertainty for the bank. JPMorgan, Citi sued for frozen payments to sanctioned China firm
• Negative Sentiment: Asset Management One disclosed it trimmed its JPM position, adding to signs of some institutional profit-taking in the name. Fund update showing decrease in JPM shares

Analysts Set New Price Targets

A number of research firms recently commented on JPM. Daiwa Securities Group decreased their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Jefferies Financial Group reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a research report on Wednesday, April 15th. Finally, HSBC boosted their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $338.12.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total value of $127,760.98. Following the completion of the transaction, the insider owned 64,920 shares of the company's stock, valued at approximately $19,155,295.20. This trade represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 79,849 shares of company stock valued at $24,522,956. Insiders own 0.41% of the company's stock.

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.

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