JPMorgan Chase & Co. $JPM Stock: Smith Group Asset Management LLC Trims Position

Key Points

• Smith Group Asset Management cut its JPMorgan position by 39.1% in the third quarter, selling 59,267 shares and retaining 92,343 shares worth approximately $30.55 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan’s latest quarterly results fell short of expectations, with EPS of $5.75 versus $5.94 expected and revenue of $50.17 billion versus $51.23 billion forecast, although revenue increased 8.1% year over year.
• Despite the earnings miss, analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $368.33. JPMorgan also raised its quarterly dividend to $1.65, or $6.60 annualized, representing a 1.9% yield.

Smith Group Asset Management LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 39.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,343 shares of the financial services provider's stock after selling 59,267 shares during the quarter. JPMorgan Chase & Co. comprises 2.0% of Smith Group Asset Management LLC's investment portfolio, making the stock its 23rd biggest holding. Smith Group Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $30,550,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in JPM. Concorde Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Concorde Asset Management LLC now owns 2,660 shares of the financial services provider's stock worth $871,000 after acquiring an additional 29 shares in the last quarter. Elevation Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.0% in the second quarter. Elevation Wealth Management LLC now owns 3,074 shares of the financial services provider's stock worth $1,006,000 after acquiring an additional 29 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its holdings in JPMorgan Chase & Co. by 0.8% in the second quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,531 shares of the financial services provider's stock worth $1,156,000 after acquiring an additional 29 shares in the last quarter. Arkansas Financial Group Inc. raised its position in shares of JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock worth $873,000 after purchasing an additional 30 shares during the last quarter. Finally, Flynn Zito Capital Management LLC grew its position in JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider's stock valued at $926,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: UBS raised its price target to $400 and reiterated a “buy” rating, implying approximately 17.4% upside from the referenced share price. The upgrade reflects continued confidence in JPMorgan’s earnings power and franchise strength.
• Positive Sentiment: JPMorgan is among major banks with substantial stock-repurchase programs. Buybacks can support earnings per share and shareholder returns, although the bank is balancing repurchases against investments in its businesses and client support. 3 Bank Stocks With Buyback Plans of at Least $30 Billion Worth a Look
• Positive Sentiment: ETFs recorded a net $83.1 million inflow into JPMorgan shares on October 29, with 40 funds buying and 15 selling. The flow indicates supportive institutional demand, though it is a short-term trading signal. ETFs Bought $83.1 Million of JPMorgan on Oct. 29
• Positive Sentiment: JPMorgan continues expanding its digital-asset and technology capabilities. Its involvement in tokenized funds and stablecoin-related infrastructure could create longer-term growth opportunities, while the appointment of a data-infrastructure chief supports AI and digital-banking initiatives. Blackrock, JPMorgan and Visa Bolster Grayscale’s Crypto Growth Case
• Neutral Sentiment: JPMorgan strategists expect renewed geopolitical risk after the U.S. midterm elections but view any market selloff as a potential buying opportunity. This could support JPM sentiment if investors favor large, diversified banks during volatility. Post-midterm geopolitical risks could create another buying opportunity
• Negative Sentiment: JPMorgan’s latest quarterly earnings missed consensus estimates, with earnings per share of $5.75 versus $5.94 expected and revenue of $50.17 billion versus $51.23 billion expected. Management’s decision to reduce buybacks while increasing investment could pressure near-term per-share returns, despite a higher 2026 net-interest-income outlook. Learn Why The Bull Case For JPMorgan Chase Stock Could Change Following Earnings Miss

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Freedom Broker upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 15th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, October 8th. They set a "hold" rating and a $370.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 target price for the company in a research report on Wednesday, July 22nd. Truist Financial upped their price objective on JPMorgan Chase & Co. from $352.00 to $361.00 and gave the company a "hold" rating in a research report on Wednesday, October 14th. Finally, The Goldman Sachs Group restated an "outperform" rating and set a $392.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average price target of $368.33.

JPMorgan Chase & Co. Trading Up 1.1%

Shares of JPM opened at $340.75 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50 day simple moving average of $343.12 and a two-hundred day simple moving average of $323.13. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50. The firm has a market cap of $905.79 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.94 by ($0.19). The company had revenue of $50.17 billion during the quarter, compared to the consensus estimate of $51.23 billion. JPMorgan Chase & Co. had a net margin of 21.85% and a return on equity of 18.48%. The business's revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.07 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Tuesday, October 6th were issued a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend 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 was Tuesday, October 6th. JPMorgan Chase & Co.'s payout ratio is 27.68%.

Insider Activity at JPMorgan Chase & Co.

In related 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 transaction, the insider owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal 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. Insiders own 0.41% of the company's stock.

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

Its major business segments include Consumer & Community Banking, which offers deposit accounts, credit cards, mortgages, auto loans and other financial products; Commercial & Investment Banking, which provides corporate lending, advisory, underwriting, trading, treasury and payments services; and Asset & Wealth Management, which serves individual and institutional investors with investment management, brokerage and related advisory services.

JPMorgan Chase serves customers in the United States and operates internationally through offices and businesses in major financial centers around the world.

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